n IMFO : Official Journal of the Institute of Municipal Finance Officers - The new National Credit Act : some implications for municipalities

Volume 7, Issue 1
  • ISSN : 1607-520X



Extracted from text ... 8 IMFO ? Spring 2006 Incidental Credit It is not possible to discuss all the implications of the Act in this contribution; only some important aspects are highlighted. The normal water and electricity accounts sent out by municipalities would normally fall within the scope of section 4(6)(b) of the Act that provides as follows: "Application of Act 4. (6) Despite any other provision of this Act- (b) if an agreement provides that a supplier of a utility or other continuous service- (i) will defer payment by the consumer until the supplier has provided a periodic statement of account for that ..

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