Fee Guideline for Credit Providers in Place

Department of Trade and Industry

A fee guideline in terms of the National Credit Act has been published in Government Gazette 41685.

The guideline applies to all credit providers, credit bureaux and data providers.

The guideline prescribes the fees payable to the South African Credit and Risk Reporting Association (SACRRA) for the on-boarding for credit and data providers, the maintenance and use of the data transmission hub and the monitoring and reporting of all data submitted via the Data Transmission Hub to the credit bureaux.

Schedule 1 contains the onboarding fees for credit providers in categories 1-5 and data providers.

On-boarding fees for categories 6-9 will be prescribed in December 2018.

The onboarding of credit providers in Categories 1-5 and all data providers must be completed by no later than 30th November 2018.

The guidelines also focus on maintenance fees payable and restrictions and penalties.

Maintenance fees will be payable with effect from 15 January 2019.

All credit providers in Categories 1 - 5 and all data providers who have completed the initial assessment
process and have paid the corresponding assessment fees must kick-start the onboarding process with the SACRRA by no later than 20 business days after the date of publication.

Meanwhile, in Gazette 41693, the trade and industry department has called for comment on its intention to grant the Small Enterprise Finance Agency broad-based black economic empowerment facilitator status.

Comment on the proposal is invited within 30 days of the date of publication.

In Gazette 41685, the department has published a correction notice on Notice 282 published on 25 May 2018.

The original notice contained a list of anti-dumping duties set to expire during 2019.

According to the International Trade Administration Commission, stakeholders are invited to substantiate why a cessation of the duties will lead to a recurrence of dumping and injury and request a review of the proposal to do away with the duties.

Some of the products include Belgian frozen potato chips, Chinese wire ropes, Indonesian gypsum plasterboard and United States soda ash.

Requests from manufacturers in the Southern African Customs Union for a review are now invited until 9 July 2018.

In a separate matter, the trade and industry committee has announced that it will meet at the end of July 2018 to consider further public submissions on the Draft National Credit Amendment Bill.

Sabinet Cape Town Office