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

No. and year of Act

Short Title

Extent of amendment

Act No. 24 of 1936

Insolvency Act, 1936

The amendment of section 84 by—

(a)    the substitution for the heading of the following heading:

“Special provisions in case of goods delivered to a debtor in terms of an [instalment sale transaction] instalment agreement”; and

(b)   the substitution for the opening clause of subsection (1) of the following words:

“If any property was delivered to a person (hereinafter referred to as the debtor) under a transaction [which is an instalment sale transaction contemplated in paragraphs (a) and (b) of the definition of ‘instalment sale transaction’ in section 1 of the Credit Agreements Act, 1980] that is an instalment agreement contemplated in paragraph (a), (b), and (c)(i) of the definition of ’instalment agreement’ set out in section 1 of the National Credit Act, 2005.”.

Act No. 32 of 1944

Magistrates’ Courts Act, 1944

1.    The amendment of subsection (1) of section 29 by—

(a)   the insertion after the expression “Subject to the provisions of this Act”, of the words "and the National Credit Act, 2005", and

(b)   the substitution for paragraph (e) of the following paragraph:

“(e)   actions on or arising out of any credit agreement, as defined in section 1 of the [Credit Agreements Act, 1980 (Act No. 75 of 1980)] National Credit Act, 2005.”.

2.    The amendment of section 60 by the substitution for subsection (1) of the following subsection:

“(1) Unless expressly otherwise provided in this Act or the rules and the National Credit Act, 2005, and subject to the provisions of section 19 of the Debt Collectors Act, 1998, no person other than an attorney, [or] an agent referred to in section 22 or a person authorised by or under the provisions of the National Credit Act, 2005, to do so shall be entitled to recover from the debtor any fees or remuneration in connection with the collection of any debt.”.

3.    The amendment of subsection (5) of section 65D by the substitution for the expression “hire-purchase agreement” of the expression “credit agreement, as defined in section 1 of the National Credit Act, 2005”.

4.    The amendment of subsection (2) of section 74A by—

(a)   the substitution in paragraph (b) for the words—

(i)    “the credit transaction defined in section 1 of the Credit Agreements Act, 1980 (Act No. 75 of 1980)” with the words “the credit agreement, as defined in section 1 of the National Credit Act, 2005”; and

(ii)  “purchased under such credit transaction” with the words “purchased under that credit agreement”; and

(b)    the substitution in paragraph (i) for the words “other than a credit transaction” of the words “other than a credit agreement”.

5.    The amendment of section 74C by—

(a)  the substitution in paragraph (b) of subsection (1) for the words “any credit transaction regulated by the Credit Agreements Act, 1980” of the words “a credit agreement regulated by the National Credit Act, 2005”; and

(b)  the substitution in paragraph (b) of subsection (2) for the words "a credit transaction as defined in section 1 of the Credit Agreements Act, 1980 (Act No. 75 of 1980)" of the words "a credit agreement as defined in section 1 of the National Credit Act, 2005".

6.     The amendment of subsection (7) of section 74G by—

(a)   the substitution for the words “a credit transaction as defined in section 1 of the Credit Agreements Act, 1980 (Act No. 75 of 1980)” of the words “a credit agreement as defined in section 1 of the National Credit Act, 2005”; and

b)     the substitution throughout the subsection for each instance of the word “transaction” with the word “agreement”.

7.   The amendment of subsection (4) of section 74H by the substitution for the words “a credit transaction as defined in section 1 of the Credit Agreements Act, 1980 (Act No. 75 of 1980)” of the words "a credit agreement as defined in section 1 of the National Credit Act, 2005".

8.     The amendment of section 74K by—

(a)   the substitution in subsection (2) for the words—

(i)   “credit transaction regulated by the Credit Agreements Act, 1980 (Act No. 75 of 1980)” of the words “a credit agreement regulated by the National Credit Act, 2005”; and

(ii)  “seller”, in each instance, of the words “credit provider”; and

(b)   the deletion from subsection (3) of the words “of section 15”; and

(c)   the substitution in subsection (3) for the words ‘‘credit grantor as defined in section 1 of the Credit Agreements Act, 1980” of the words “credit provider as defined in section 1 of the National Credit Act, 2005”.

Act No. 15 of 1962

Conventional Penalties Act, 1962

The repeal of section 5.

Act No. 25 of 1964

Sale and Service Matters Act, 1964

1.    The amendment of the definition of “sell” in section 1 by the substitution for the expression “as defined in the Credit Agreements Act, 1980 (Act No. 75 of 1980)” of the words “as defined in section 1 of the National Credit Act, 2005”.

2.    The amendment of section 2 by the insertion after the expression “the control of the Minister”, of the words “and subject to the provisions of the National Credit Act, 2005”.

Act No. 91 of 1964

Customs and Excise Act, 1964

The amendment of subsection (1) of section 114 by—

(a)   the substitution in paragraph (a)(iv)(bb) for the expression “Credit Agreement Act, 1980 (Act No. 75 of 1980)” of the expression ‘‘National Credit Act, 2005”;

(b)   the substitution in paragraph (a)(v)(aa) for the expression—

(i)    “Credit Agreement Act” of the expression "National Credit Act, 2005"; and

(ii) “credit grantor” of the expression “credit provider";

(c)   the substitution in paragraph (a)(v)(bb) for the expression “Usury Act, 1968 (Act No. 73 of 1968” of the expression “National Credit Act, 2005”;

(d)   the substitution in paragraph (a)(vi)(aa) for the expression “credit grantor” of the expression “credit provider”;

(e)   the substitution in paragraph (a)(vi)(bb) for the expression "credit grantor" of the expression "credit provider";

(f)    the substitution in paragraph (a)(vi)(cc) for the expression "credit grantor" of the expression "credit provider"; and

(g)   the substitution in paragraph (b)(ii) for the expression “credit grantor” of the expression “credit provider”.

Act No. 55 of 1975

Prescribed Rate of Interest Act, 1975

The amendment of subsection (2) of section 2A by the insertion in paragraph (a) after the expression “between the parties” of the words “and the provisions of the National Credit Act, 2005”.

Act No. 88 of 1984

Matrimonial Property Act, 1984

The amendment of subsection (2) of section 15 by the substitution for paragraph (f) of the following paragraph:

paragraph:

“(f) enter, as a consumer, into a credit agreement to which the provisions of the National Credit Act, 2005 apply, as ‘consumer’ and ‘credit agreement’ are respectively defined in that Act, but this paragraph does not require the written consent of a spouse before incumng each successive charge under a credit facility, as defined in that Act;”.

Act No. 61 of 1984

Small Claims Court Act, 1984

The amendment of section 15 by the substitution for paragraph (d) of the following paragraph:

"(d) actions based on or arising out of a credit agreement, as defined in section 1 of the [Credit Agreements Act, 1980 (Act No. 75 of 1980)] National Credit Act, 2005, where the claim or value of the property in dispute does not exceed the amount determined by the Minister from time to time by notice in the Gazette;”

Act No. 71 of 1988

Consumer Affairs (Unfair Business Practices) Act, 1988

1.    The amendment of subsection (1) of section 4 by the insertion in paragraph (c) after the words “with any interested party” of the words “and the National Credit Regulator established in terms of the National Credit Act, 2005, if the matter falls within the jurisdiction of the National Credit Regulator,”.

2.    The amendment of subsection (1) of section 9 by the insertion after the expression “corporate or inincorporate” of the words “or the National Credit Regulator established in terms of the National Credit Act, 2005,”.

Act No. 52 of 1998

Long-term Insurance Act, 1998

The amendment of section 44 by the insertion of a new subsection 5:

“(5)This section does not apply if the long-term policy or its policy benefits as contemplated in subsection (1), is made available for the purpose of protecting the interests of a creditor under a credit agreement to which the National Credit Act, 2005, applies.”

Act No. 53 of 1998

Short-term Insurance Act, 1998

The amendment of section 43 by the insertion of a new subsection 6:

“(6) This section does not apply if the short-term policy or its policy benefits as contemplated in subsection (1) is made available for the purpose of protecting the interests of a creditor under a credit agreement to which the National Credit Act, 2005, applies.”

Act No. 78 of 1998

National Payment System Act, 1998

1.    By the insertion after section 6 of the following:

"Effectiveness and efficiency of the National Payment System

6A.

(1)  As of 1 July 2006, a person may not change, manipulate, maintain or apply a payment system in any manner that provides preferential treatment to a payment instruction over any other payment instruction in that system, unless such preferential treatment is prescribed by law.

(2)  With regard to any credit agreement concluded on or before 30 June 2006, which is subject to a payment system that provides preferential treatment to a payment instruction over any other payment instruction in that system, other than preferential treatment prescribed by law, such preferential treatment must be terminated on or before 3 1 December 2007.

(3)   A person providing access to or allowing participation in a payment system may not deny any person access to or participation in that payment system if that second person meets the criteria set by the first mentioned person.

(4)  The criteria referred to in subsection (3) for access to or participation in a payment system must be fair, transparent and equitable.

(5)   A person who contravenes any provision of this section is guilty of an offence.".

2.     By the substitution for paragraph (a) of subsection (1) of section 14 of the following:

"(a) sections 6(2), 6A(4) or 12(8), is liable to a fine not exceeding R1 million, or to imprisonment for a period not exceeding five years, or to both such a fine and such imprisonment;".

Act No. 64 of 1990

Financial Institutions Amendment Act, 1990

The repeal of paragraph (i) of section 17.

Act No. 89 of 1991

Value-added Tax Act, 1991

1.

(a)   Section 8 of the Value-Added Tax Act, 1991, is hereby amended by the substitution for subsection (3) of the following subsection:

(3) For the purposes of this Act, a credit agreement to which section [13 of the Credit Agreements Act, 1980 (Act No. 75 of 1980),] 121 of the National Credit Act, 2005 applies, [shall] will be deemed not to be a supply of goods or services [unless the credit receiver] if the consumer has [failed to] exercised the right to rescind [under that section to terminate the] that agreement in the manner and within the time permitted [period available to him or her under] by that section”.

(b)  Section 9 of the Value-Added Tax Act, 1991, is hereby amended by the substitution in subsection (2) for paragraph (b) of the following paragraph

“(b) where that supply is a supply to which section 8(3) refers, on the day after the last day of the period during which the recipient may exercise the right under [section 13 of the Credit Agreements Act, 1980 (Act No. 75 of 1980)] section 121 of he National Credit Act, 2005, to [terminate] rescind the agreement;”.

Act No. 57 of 1993

Security by Means of Movable Property Act, 1993

The amendment of subsection (1) of section 2 by the substitution for paragraph (b) of the following paragraph

“(b) to which an instalment [sale transaction] agreement, as defined in section 1 of the [Credit Agreement Act 1980 (Act No. 75 of 1980)] National Credit Act, 2005, relates;”.

Act No. 63 of 2000

Home Loan and Mortgage Disclosure Act, 2000

The repeal of section 13.