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Usury Act, 1968 (Act No. 73 of 1968)

17A. Penalty for failure to furnish information to Registrar

 

 

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If any moneylender, credit grantor or lessor fails to furnish the Registrar with any information required of him in terms of section 14 within the period prescribed by or allowed in terms of that section, the Registrar may in his discretion, irrespective of any criminal action that may have been taken or may be taken against such moneylender or credit grantor or lessor under this Act, impose upon him such penalty as the Registrar may deem fit, but not exceeding R50 for every day during which the default continues, and if such moneylender or credit grantor or lessor fails to pay such penalty or any portion thereof forthwith the Registrar may by action in any competent court recover from him such penalty or such portion or waive such penalty or any portion thereof if he considers it appropriate to do so.

 


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