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

Chapter 3 : Consumer Credit Industry Regulation

Part B : Compliance procedures and cancellation of registration

55. Compliance notices


(1) Subject to subsection (2), the National Credit Regulator may issue a compliance notice in the prescribed form to—
(a) a person or association of persons whom the National Credit Regulator on reasonable grounds believes—
(i) has failed to comply with a provision of this Act; or
(ii) is engaging in an activity in a manner that is inconsistent with this Act; or
(b) a registrant whom the National Credit Regulator believes has failed to comply with a condition of its registration.


(a) Before issuing a notice in terms of subsection (1)(a) to a regulated financial institution, the National Credit Regulator must consult with the regulatory authority that issued a licence to that regulated financial institution.
(b) Sections 68, 70(1), (2)(b) to (g) and (i), (3) and (4) and 72(1), (3) and (5) will be subject to the compliance procedures set out in Chapters 10 and 11 of the Protection of Personal Information Act, 2013.

[Subsection (2) amended by section 110 of Act No. 4 of 2013]


(3) A compliance notice contemplated in subsection (1) must set out—
(a) the person or association to whom the notice applies;
(b) the provision, or condition, that has not been complied with;
(c) details of the nature and extent of the non-compliance;
(d) any steps that are required to be taken and the period within which those steps must be taken; and
(e) any penalty that may be imposed in terms of this Act if those steps are not taken.


(4) Subject to section 59, a compliance notice issued in terms of this section remains in force until—
(a) it is set aside by the Tribunal, or a court upon an appeal or review of a Tribunal decision concerning the notice; or
(b) the National Credit Regulator issues a compliance certificate contemplated in subsection (5).


(5) If the requirements of a compliance notice issued in terms of subsection (1) have been satisfied, the National Credit Regulator must issue a compliance certificate.


(6) If a person fails to comply with a compliance notice as contemplated in this section without raising an objection in terms of section 56, the National Credit Regulator may refer the matter—
(a) to the National Prosecuting Authority, if the failure to comply constitutes an offence in terms of this Act; or
(b) otherwise, to the Tribunal for an appropriate order.