LENDERS: IF IT IS A “CREDIT TRANSACTION”, REGISTER OR THE LOAN IS VOID
Du Bruyn NO and Others v Karsten (929/2017)  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.
STBB’s STSMA REFERENCE GUIDE
In this, the sixtieth set of notes for your STSMA Reference Guide, Prescribed Conduct Rule 8 is discussed.
Prescribed Conduct Rule 8
(N.B. Print in landscape)