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 KLAJENGO

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. 

The briefing takes place on Thursday 27 February 2014 at around 12:00 to 13:30 at Imbizo Media Centre, Parliament Cape Town.

The will be a video link to GCIS’s Tshedimosetso house. The Bill provides:  

•            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

•            Industry Code to prescribe 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