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



Notice No. 230

15 March 2006


(English text signed by the President)

(Assented to 10 March 2006)


It is hereby notified that the President has assented to the following Act, which is hereby published for general information:—


To promote a fair and non—discriminatory marketplace for access to consumer credit and for that purpose to provide for the general regulation of consumer credit and improved standards of consumer information;  to promote black economic empowerment and ownership within the consumer credit industry;  to prohibit certain unfair credit and credit—marketing practices; to promote responsible credit granting and use and for that purpose to prohibit reckless credit granting;  to provide for debt re-organisation in cases of over-indebtedness;  to regulate credit information; to provide for registration of credit bureaux, credit providers and debt counselling services; to establish national norms and standards relating to consumer credit; to promote a consistent enforcement framework relating to consumer credit; to establish the National Credit Regulator and the National Consumer Tribunal; to repeal the Usury Act, 1968, and the Credit Agreements Act, 1980; and to provide for related incidental matters.


BE IT ENACTED by the Parliament of the Republic of South Africa, as follows:—