Amendments to the NCA – When?
Over the last year there has been a cry by the credit and debt counselling industry for changes to be made to the National Credit Act ( NCA ). It seems that the Department of Trade and Industry ( DTI ) have taken heed of the call. So when might consumers expect to see changes to the Act?
At present the DTI have asked the UP Law Clinic to compile and submit a report on possible amendments to the National Credit Act. The University plans to complete their report for submission to DTI by the end of November this year. After this the DTI will then study the report and eventually submit the report to Parliament early in 2013.
Only then IF Parliament approve of the report and see a need for changes to the NCA the DTI may be requested to start actually drafting proposed changes to the Act. After this it will be a while before they in turn submit those draft changes back to Parliament and a while longer before those could be ratified. So…the bottom line is: