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Friday, February 21, 2014

MINISTER DAVIES TO ADDRESS MEDIA ON THE NATIONAL CREDIT AMENDMENT BILL 2013



MINISTER DAVIES TO ADDRESS MEDIA ON THE NATIONAL CREDIT AMENDMENT BILL 2013
By BRIAN KAJENGO
The Minister of Trade and Industry, Dr Rob Davies, will brief the media on the National Credit Amendment Bill 2013 after extensive public consultation and the Portfolio Committee on Trade and Industry has approved the Bill. 
This will take place on Tuesday 25 February 2014 at 25 February 2014 Imbizo Media Centre, Parliament Cape Town.
The Bill provides amongst others the followings: Removal of adverse credit information, affordability assessment regulations, Registration of any person who offers credit (Credit providers), Non termination of credit agreement when the dispute is in court, debt counselling, or mediation. Issuance of rehabilitation certificate by the debt counsellor, and industry Code prescribed by the Minister

           The Bill also provides for the capping of costs of credit insurance by Minister   of Trade and Industry in consultation with Minister of Finance.

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