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Table of Contents
Usury Act, 1968 (Act No. 73 of 1968) [Repealed]
Act
1. Definitions
2. Maximum annual finance charge rates which may be charged in connection with a money lending transaction, a credit transaction and a leasing transaction
2A. Limitation of finance charges in respect of money lending transactions secured by certain mortgage bonds
2B. Limitation of finance charge rate at conclusion of contract
3. Compulsory disclosure of finance charges
3A. Particulars in instrument of debt relating to payment of outstanding principal debt and finance charges before due date
4. Limitation of sum recoverable on default or deferment of payment
4A. Sum recoverable on expiry of period of notice by moneylender, credit grantor or lessor
5. Limitation of sum recoverable from borrower, credit receiver or lessee
5A. Recovery of certain moneys not permitted by section 5
6. Reduction of instalments in the event of advanced payment, refinancing or consolidation of debt
6A. Payment of portion of principal debt and finance charges before due date
6B. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain money lending transactions or credit transactions
6C. Consequence of certain agreement relating to change of amount of instalments payable in terms of certain money lending transactions or credit transactions
6D. Consequence of certain agreement relating to consolidation of principal debts and finance charges payable in terms of several money lending transactions or credit transactions
6E. Replacement of property in terms of certain leasing transactions and change of amount of instalments payable in terms of certain leasing transactions
6F. Termination of leasing transactions before expiry of lease
6G. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain leasing transactions in the event of termination of such transactions
6H. Consequence of payment before due date without notice of outstanding principal debt and finance charges in terms of certain leasing transactions in the event of termination of such transactions
6I. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain leasing transactions if such transactions not terminated
6J. Consequence of payment before due date without notice of outstanding principal debt and finance charges in terms of certain leasing transactions if such transactions not terminated
6K. Money value of leased property at expiry of lease or termination of leasing transaction
6L. Position regarding recovery of additional finance charges and other costs
7. Recovery of an amount overpaid in connection with money lending transaction, credit transactiono or leasing transaction
8. Position of bona fide holder for value of instrument of debt
9. Lower rate under another law not affected
9A. Effect of Act on other statutes
10. Moneylender or credit grantor to furnish borrower or credit receiver with copy of instrument of debt with certain information
11. Legal proceedings for recovery of debt incurred in connection with a money lending transaction, a credit transaction or a leasing transaction
11A. Legal proceedings for recovery of costs for repair or maintenance of leased property
12. Delegation and assignment of powers and duties
12A. Assignment of functions and powers by Minister
13. Powers of inspection
14. Furnishing of information to the Registrar
15. Exemptions from the provisions of this Act
15A. Exemptions by Minister
16. Regulations
16A. Regulations in respect of housing loan
17. Penalties
17A. Penalty for failure to furnish information to Registrar
18. Jurisdiction of magistrate's court
18A. Statement of question of law for opinion of Supreme Court
19. Application of Act to South-West Africa (Repealed)
20. Repeal of existing laws
21. Short title and date of commencement
Schedule
Regulations
Regulations
1. Definition
2. Prescribed amounts
Notices
713 of 1999 Notice in terms of Section 15A of the Usury Act
259 of 2000 Annual Finance Charge Rates
6959 of 2000 Prohibition on the Use of Personal Information as Security or Collection Arrangements
Government Notice No. 992 Annual finance charge rates schedule
Government Notice No. 3368 of 2003
Notice No. 166 of 2007 - Annual finance charge rates
Integration of Usury Laws Act
Integration of Usury Laws Act
Usury Report
Report on Costs and Interest Rates in the Small Loans Sector
Executive Summary
1. Introduction
2. Overview of the Market for Microlending in South Africa: Demand and Supply
3. Considerations on interest rates and microlending
4. Findings from the Information gathering exercise
5. Risk weighting assessment
6. Trends in the sector and summary of findings
7. Recommendations
List of Annexes
Annex II : Bibliography
Annex IV: Interest rate calculations [1]
Annex V: Overview Of Problems, Causes, Types Of Solutions And Various Options
Annex VI: Scenarios for Interest Rate Reduction
Usury Report
Purchase
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