National Credit Act, 2005 (Act No. 34 of 2005)Chapter 5 : Consumer Credit AgreementsPart D : Statements of account109. Form and content of statement of account |
| (1) | The opening balance shown in each successive statement of account must be the same as the closing balance shown in the immediately preceding statement of account. |
| (2) | A statement of account in respect of a small credit agreement must be in the prescribed form. |
| (3) | A statement of account in respect of an intermediate or large agreement may be in— |
| (a) | the prescribed form, if any, for the category or type of credit agreement concerned; or |
| (b) | a form determined by the credit provider, and which complies with any prescribed requirements for the category or type of credit agreement concerned. |
| (4) | The National Credit Regulator may publish guidelines for methods of assessing whether a statement satisfies any prescribed requirements contemplated in subsection (3). |