n Without Prejudice - Unintended consequences : consumer law
|Article Title||Unintended consequences : consumer law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Nov 2009|
|Pages||11 - 12|
The National Credit Act (NCA), which came into effect on June 12006, was enacted in order, inter alia, to promote and advance the social and economic welfare of South African consumers. However, the wide classification of credit agreements in the NCA potentially poses problems for financial institutions which lend to Special Purpose Vehicles (SPV's). Financial institutions would lend to SPV's in a number of scenarios, such as project financing in respect of a Public Private Partnership.
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