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

Chapter 4 : Consumer Credit Policy

Part D : Over-indebtedness and reckless credit

82A. Report and investigation of reckless credit agreement


(1) If during an assessment contemplated in section 86(6) there are reasonable grounds to suspect that a credit agreement included in that assessment is a reckless credit agreement, the debt counsellor must report that suspected reckless credit agreement to—
(a) the National Credit Regulator where the debt counsellor rejects the application as contemplated in section 86(7)(a) or makes a recommendation contemplated in section 86(7)(b); or
(b) the Magistrate’s Court where the debt counsellor makes a recommendation contemplated in section 86(7)(c).


(2) A credit provider must, within seven business days of receipt of a request and at a fee not exceeding the maximum prescribed fee, provide a debt counsellor with the following information requested in relation to the consumer concerned:
(a) Relevant application for credit;
(b) pre-agreement statement;
(c) quote;
(d) credit agreement entered into with the consumer;
(e) documentation in support of steps taken in terms of section 81(2);
(f) record of payments made; and
(g) documentation in support of any steps taken after default by the consumer.


(3) The report to the National Credit Regulator contemplated in subsection (1)(a) is deemed to be a complaint in terms of section 136 and the National Credit Regulator must investigate that report in accordance with section 139.


(4) The Tribunal may impose an administrative fine contemplated in section 151 where a credit provider intentionally fails to comply with subsection (2).


[Section 82A inserted by section 10 of Notice No. 1081, GG 42649, dated 19 August 2019]