n Without Prejudice - Leaving a difficult conundrum for another day : financial law
|Article Title||Leaving a difficult conundrum for another day : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Webber Wentzel|
|Publication Date||Jun 2011|
|Pages||17 - 18|
An opportunity for the Constitutional Court to provide much needed clarity on the interpretation of s89(5)(c) (the provision) of the National Credit Act (34 of 2005) appears to have been squarely missed in its recent judgement of Cherangani Trade and Invest 107 (Pty) Ltd v Mason and Others (CCT 116/2009)  ZACC 12. By far the Act's most punitive provision, s89(5)(c) obliges courts to order that credit providers, who have entered into credit agreements that are deemed unlawful, forfeit all their rights in terms of such agreements to the state.
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