National Credit Act, 2005 (Act No. 34 of 2005)RegulationsNational Credit Regulations, 2006Chapter 8 : Compliance and ReportingPart C : Credit bureau compliance reports71. Quarterly synoptic report by credit bureau |
| (1) | A credit bureau must submit a quarterly report on: |
| (a) | The total number of complaints received; |
| (b) | The nature of the complaint, classified as defined by the National Credit Regulator, |
| (c) | Number of complaints that were found to be valid, partially valid and invalid, respectively; |
| (d) | Number of complaints resolved and outstanding; and |
| (e) | The nature and validity of complaints, in categories such as: |
| (i) | inaccurate or jncorrect information |
| (ii) | insufficient or incomplete information |
| (iii) | outdated information |
| (iv) | double listing |
| (v) | incorrect merging of information |
| (vi) | consumer withdrew complaint; |
| (2) | In terms of section 70(5) of the Act, a registered credit bureau must submit to the National Credit Regulator periodical synoptic reports in Form 44 in respect of the quarters and by the due dates set out in the table below: |
Quarters |
Reporting period |
Due date for Reporting |
Quarter 1 |
1 January – 31 March |
15 May |
Quarter 2 |
1 April – 30 June |
15 August |
Quarter 3 |
1 July – 30 September |
15 November |
Quarter 4 |
1 October – 31 December |
15 February |