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

National Credit Regulations, 2006

Chapter 7 : Record Keeping and Registers

Part B : Registers

60. Other Registers to be kept by Registrants

 

In addition to any registers that must be kept in terms of the Act and the information specified in regulation 55, a registrant must maintain the following information relating to its registered activities in a register which register may be kept in electronic format:

 

(1) Debt Counsellors, in respect of each consumer:
(a) consumer’s full names and surname;
(b) consumer’s identity number or, if the consumer does not have an identity number, passport number and date of birth;
(c) date of application for debt review;
(d) date of rejection letter issued (if applicable);
(e) status of the case:
(i) applied;
(ii) under assessment;
(iii) restructured;
(iv) process of payment;
(v) settled; or
(vi) defaulted.
(f) date of clearance certificate issued;
(g) if the consumer exits the debt restructuring prior to the debt being settled in full, the reasons for doing so.

 

(2) Credit Providers, in respect of each consumer:
(a) consumer’s full names and surname;
(b) consumer’s identity number or, if the consumer does not have an identity number, passport number and date of birth;
(c) date the loan was granted, amount, installment amount and number of installments;
(d) defaults in respect of each agreement;
(e) date on which agreement was terminated, and whether such termination was as a result of—
(i) settlement;
(ii) court judgment;
(iii) written off as bad debt by the credit provider;
(iv) transfer or cession;
(v) other (specify).

 

(3) Credit Bureaux, in respect of each consumer on whom information is retained:
(a) source of the information;
(b) date of submission of information;
(c) contents of information that was submitted;
(d) to whom was the information released;
(e) for what purpose was the information released;
(f) when was the information released;
(g) what information was released.