oa Comparative and International Law Journal of Southern Africa - Enforcement of consumer credit legislation - antipodean experiences
|Article Title||Enforcement of consumer credit legislation - antipodean experiences|
|© Publisher:||Institute of Foreign and Comparative Law|
|Journal||Comparative and International Law Journal of Southern Africa|
|Affiliations||1 Dept of Mercantile Law, UNISA|
|Publication Date||Jul 2003|
|Pages||159 - 171|
|Keyword(s)||Australia, Compliance, Consumer credit legislation, Credit Agreements Act, Creditors, Criminal penalties, Enforcement agencies, Exemption Notice, Negative licencing, New Zealand, Sanctions, South Africa, Uniform Consumer Credit Code and Usury Act|
One of the areas in South African consumer credit legislation that requires most attention is that of enforcement of controls imposed on creditors, as existing legislation is often ineffectual due to inadequate enforcement provisions. I focus on two other jurisdictions in this article. The New Zealand consumer credit legislation, dating from the early eighties, has been comprehensively reviewed recently and a draft bill was introduced late in 2002, while Australian consumer credit legislation, which comprised a number of different federal Acts, was streamlined into a Uniform Consumer Credit Code in 1996. The three aspects of legislation in these jurisdictions that I discuss are the concept of an enforcement agency to ensure compliance with legislation, the concept of sanctions other than the traditional criminal penalties and negative licencing.
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