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National Credit Act, 2005 (Act No. 34 of 2005)

Chapter 2 : Consumer Credit Institutions

Part A : National Credit Regulator

13. Development of accessible credit market


(1) The National Credit Regulator is responsible to—
(a) promote and support the development, where the need exists, of a fair, transparent, competitive, sustainable, responsible, efficient, effective and accessible credit market and industry to serve the needs of—
(i) historically disadvantaged persons;
(ii) low income persons and communities; and
(iii) remote, isolated or low density populations and communities,

in a manner consistent with the purposes of this Act;

(b) set appropriate conditions for the supplementary registration of credit providers wishing to enter into developmental credit agreements, in order to promote access to credit in the manner, and for the persons, contemplated in paragraph (a);
(c) monitor the following matters and report to the Minister annually in respect of:
(i) Credit availability, price and market conditions, conduct and trends;
(ii) market share, market conduct and competition within the consumer credit industry, the credit industry structure, including the extent of ownership, control and participation within the industry by historically disadvantaged persons;
(iii) access to consumer credit by small businesses or persons contemplated in paragraph (a)(i) to (iii);
(iv) levels of consumer indebtedness and the incidence and social effects of over-indebtedness; and
(v) any other matter relating to the credit industry; and
(d) conduct research and propose policies to the Minister in relation to any matter affecting the consumer credit industry, including but not limited to proposals for legislative, regulatory or policy initiatives that would improve access to credit for persons contemplated in paragraph (a)(i) to (iii).