Consumer Protection Act, 2008 (Act No. 68 of 2008)
Consumer Protection Act Regulations
34. Maximum amount of cancellation penalty for lay-by’s
|1)||For purposes of section 62(6) of the Act, a penalty shall be reasonable but may not exceed one percent of the full purchase price of the good.|
|2)||On cancellation, the supplier must upon request by a consumer immediately provide the consumer with written details on how the penalty was calculated, unless the consumer waives this right in writing.|
|3)||Any notices exchanged in respect of the cancellation of lay-by's may be transmitted or stored electronically if the requirements of the Electronic Communications and Transactions Act, 2002 (Act No. 25 of 2002) are met.|
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