National Payment System Act, 1998 (Act No. 78 of 1998)
6A. Effectiveness and efficiency of the National Payment System
|1)||As of 1 July 2006, a person may not change, manipulate, maintain or apply a payment system in any manner that provides preferential treatment to a payment instruction over any other payment instruction in that system, unless such preferential treatment is prescribed by law.|
|2)||With regard to any credit agreement concluded on or before 30 June 2006, which is subject to a payment system that provides preferential treatment to a payment instruction over any other payment instruction in that system, other than preferential treatment prescribed by law, such preferential treatment must be terminated on or before 31 December 2007.|
|3)||A person providing access to or allowing participation in a payment system may not deny any person access to or participation in that payment system if that second person meets the criteria set by the first mentioned person.|
|4)||The criteria referred to in subsection (3) for access to or participation in a payment system must be fair, transparent and equitable.|
|5)||A person who contravenes any provision of this section is guilty of an offence.|
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