Issue 18 – 2018

Posted on: November 16th, 2018 by Francois Hagen

LENDERS: IF IT IS A “CREDIT TRANSACTION”, REGISTER OR THE LOAN IS VOID

Du Bruyn NO and Others v Karsten (929/2017) [2018] ZASCA 143 (28 September 2018)

For some time now there has been confusion whether it is necessary for a lender, in a once-off loan, to register with the National Credit Regulator where the loan reached a certain threshold. The Supreme Court of Appeal confirmed now that although it would be reasonable and sensible to interpret the National Credit Act as being inapplicable to once-off transactions where the role players are not participants in the credit market, the current wording did not support this. The Court suggested that the legislature should address this aspect.

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The Judgment
Summary of the Judgment

STBB’s STSMA REFERENCE GUIDE

In this, the sixtieth set of notes for your STSMA Reference Guide, Prescribed Conduct Rule 8 is discussed.

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Prescribed Conduct Rule 8
(N.B. Print in landscape)

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