DTI Gives Input on Draft National Credit Amendment Bill

Department of Trade and Industry

The trade and industry department has called for a task team to be assembled to make technical inputs into the crafting of the Draft National Credit Amendment Bill.

The trade and industry committee published the draft committee bill for comment in November last year.

Hearings on the proposed legislation have recently been held in parliament.

The draft bill is designed to provide debt interventions for low income, over-indebted consumers.

The technical inputs would ensure that the proposed legislation was aligned to the policy position.

Other recommendations made by the department include that the draft bill be referred for constitutional certification in order to remove all constitutional uncertainties, the process of rule nisi be included when considering debt intervention applications so that all interested parties have the opportunity to make submissions on the return date in accordance with the audi alteram partem rule and that credit providers be allowed to make submissions to the National Credit Regulator (NCR) during the evaluation of applications.

In terms of the proposed amendment to section 88, the department recommended that any appeals against a single member’s judgement should be made to a full panel of three members.

The department declared its full support for the draft bill along with the NCR and the National Consumer Tribunal.

Sabinet Cape Town Office

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