n Without Prejudice - Constitutional Court softens the blow for unregistered credit providers : financial law
|Article Title||Constitutional Court softens the blow for unregistered credit providers : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Nastascha Van Vuuren|
|Publication Date||Mar 2013|
|Pages||66 - 67|
The Constitutional Court recently upheld a judgement by the Western Cape High Court that the provisions of s89(5)(c) of the National Credit Act (34 of 2005) (the NCA) is unconstitutional. The provision obliges courts, in a case of an unlawful credit agreement, to order that the credit provider's rights under the agreement be cancelled or forfeited to the state.
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