[Subsection (2) substituted by section 14(a) of Act No. 19 of 2014]
| (3) | A natural person may not be registered as a credit provider, debt counsellor, or payment distribution agent, if that person— |
[Words preceding section 46(3)(a) substituted by section 14(b) of Act No. 19 of 2014]
| (a) | is under the age of 18 years; |
| (b) | as a result of a court order, is listed on the register of excluded persons in terms of section 14 of the National Gambling Act, 2004 (Act No. 7 of 2004); |
| (c) | is subject to an order of a competent court holding that person to be mentally unfit or disordered; |
| (d) | has ever been removed from an office of trust on account of misconduct relating to fraud or the misappropriation of money, whether in the Republic or elsewhere; |
| (e) | has ever been a director or member of a governing body of an entity at the time that such an entity has— |
| (ii) | brought the consumer credit industry into disrepute; or |
| (iii) | acted with disregard for consumer rights generally; or |
| (f) | has been convicted during the previous 10 years, in the Republic or elsewhere, of— |
| (i) | theft, fraud, forgery or uttering a forged document, perjury, or an offence under the Prevention and Combating of Corrupt Activities Act, 2004 (Act No. 12 of 2004), or comparable legislation of another jurisdiction; |
| (ii) | a crime involving violence against another natural person; or |
and has been sentenced to imprisonment without the option of a fine unless the person has received a grant of amnesty or free pardon for the offence.
| (4) | In addition to the disqualifications set out in subsection (3), a natural person may not be registered as a debt counsellor if that person is— |
| (a) | subject to an administration order as contemplated in section 74 of the Magistrates' Court Act, 1944 (Act No. 32 of 1944); |
| (b) | subject to debt re-arrangement as contemplated in sections 86 and 87; or |
| (c) | engaged in, employed by or acting as an agent for a person that is engaged in— |
| (ii) | the operation of a credit bureau; |
| (iv) | any other activity prescribed by the Minister on the grounds that there is an inherent conflict of interest between that activity and debt counselling. |
| (5) | The National Credit Regulator must deregister a natural person if the registrant becomes disqualified in terms of this section at any time after being registered. |
