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


National Credit Regulations, 2006

Chapter 5 : Interest and Fees

Part C : Interest applicable to different products

45. Periodic review of limitations on fees and interest rata


The National Credit Regulator must—


(1) perform a review of interest rates and cost factors at intervals of no more than 3 years and advise the Minister of any changes that may be required;


(2) when making a recommendation to the Minister in terms of this regulation, consider
(a) ruling interest rates and fees;
(b) cost of providing such credit;
(c) the choice available to consumers in the particular category of credit agreements, between different products and different credit providers; and
(d) the impact upon access to finance for persons referred to in section 13(a) of the Act.