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

Chapter 3 : Consumer Credit Industry Regulation

Part A : Registration requirements, criteria and procedures

48A. Code of Conduct


(1) The Minister may prescribe a code of conduct contemplated in section 48(1)(b), only after the National Credit Regulator has—
(a) published the proposed code of conduct for public comment;
(b) considered any submissions made during the public comment period;
(c) consulted with—
(i) persons conducting business within the relevant industry; and
(ii) relevant accredited persons; and
(d) made any revisions to the proposed industry code as published for comment.


(2) A code of conduct must be consistent with the purposes of this Act.


(3) The National Credit Regulator—
(a) must monitor the effectiveness of any code of conduct issued in terms of this Act; and
(b) may reasonably require persons conducting business within the relevant industry to provide information necessary for the purposes of—
(i) monitoring in terms of paragraph (a); or
(ii) reviewing the effectiveness of a prescribed code of conduct relative to the purposes of this Act.


(4) A registrant must not, in the ordinary course of business, contravene an applicable code of conduct as contemplated in section 48(1)(b).


[Section 48A inserted by section 16 of Act No. 19 of 2014]