Postal Services Act, 1998 (Act No. 124 of 1998)

Regulations

Unreserved Postal Services Regulations, 2020

Reasons Document on Unreserved Postal Services Regulations, March 2020

2. Submissions received on the Draft Regulations and the Authority's response

2.7. Regulation 9 : Fees Payable
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2.7.1.Submission received
2.7.1.1.CAP is of the view that when stipulating the rate at which interest will be charged for late payments, there should be transparency in order to bring certainty and also to avoid charging exorbitant rates. CAP sites as an example, section 40 of the National Credit Act, which prescribes the method that is used to calculate the interest together with section 42 which sets the Maximum Prescribed Interest.

 

2.7.2.The Authority’s decision
2.7.2.1.The Authority has included a clause that will provide clarity on the charged interest rate as per section 80 of the Public Finance Management Act, Act 1 of 1999, as amended.