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

Chapter 5 : Consumer Credit Agreements

Part E : Alteration of credit agreement

117. Changes by agreement

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(1)If the parties to a credit agreement agree to change its terms, the credit provider must, not later than 20 business days after the date of the agreement, deliver to the consumer a document that—
(a)reflects their amended agreement; and
(b)complies with the requirements set out in section 93.

 

(2)This section does not apply in respect of an increase or decrease to the credit limit under a credit facility, subject to section 119(6).