(1) Any person convicted of an offence in terms of this Act, is liable—
| (a) | in the case of a contravention of section 160(1), to a fine or to imprisonment for a period not exceeding 10 years, or to both a fine and imprisonment; |
| (aA) | in the case of a contravention contemplated in section 157A, to— |
| (i) | a fine or imprisonment not exceeding two years or to both a fine and such imprisonment; and |
| (aB) | in the case of a contravention contemplated in sections 157B or 157C, to a fine or imprisonment not exceeding 10 years or to both a fine and such imprisonment or, if the convicted person is not a natural person as contemplated in section 157D, to a fine not exceeding 10 per cent of its annual turnover or R1 000 000, whichever amount is the greater; or |
| (b) | in any other case not listed in paragraphs (a), (aA) or (aB), to a fine or to imprisonment for a period not exceeding 12 months, or to both a fine and imprisonment. |
| (2) | When determining an appropriate penalty, the following factors must be considered: |
| (a) | The nature, duration, gravity and extent of the contravention; |
| (b) | any loss or damage suffered as a result of the contravention; |
| (c) | the behaviour of the person convicted of an offence in terms of this Act; |
| (d) | the market circumstances in which the contravention took place; |
| (e) | the value of the credit agreement that formed the basis for the commission of the offence; |
| (f) | the degree to which the person convicted of an offence in terms of this Act has co-operated with the National Credit Regulator or Tribunal; and |
| (g) | whether the person convicted of an offence in terms of this Act has previously been found in contravention of this Act. |
| (3) | For purposes of determining the appropriate penalty contemplated in subsection (1)(aB), annual turnover must be calculated in accordance with section 151(4). |
[Section 161 substituted by section 26 of Notice No. 1081, GG 42649, dated 19 August 2019]
