| (1) | A person who wishes to be registered in terms of this Act must apply for registration in the prescribed manner and form to the National Credit Regulator. |
| (2) | The National Credit Regulator may— |
| (a) | require further information relevant to an application contemplated in subsection (1); and |
| (b) | refuse an application if the applicant has not supplied any information required in terms of paragraph (a) within the prescribed time. |
| (3) | If an application complies with the provisions of this Act and the applicant meets the criteria set out in this Act for registration, the National Credit Regulator, after considering the application, must register the applicant subject to section 48 unless the National Credit Regulator after subjecting the applicant to a fit and proper test or any other prescribed test, is of the view that there are other compelling grounds that disqualify the applicant from being registered in terms of this Act. |
[Subsection (3) substituted by section 13(a) of Act No. 19 of 2014]
| (4) | The Minister may prescribe the criteria to be considered in conducting a fit and proper test contemplated in subsection (3). |
[Subsection (4) inserted by section 13(b) of Act No. 19 of 2014]
| (5) | The Minister may prescribe— |
| (a) | the criteria for registration; |
| (b) | the duties and obligations of a registrant; and |
| (c) | the fees that may be charged by a registrant. |
[Subsection (5) inserted by section 13(b) of Act No. 19 of 2014]
