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NCA Amendment?

 

Could an NCA amendment be closer than anyone thought?

In a recent legal battle a member of parliament won the right to table possible amendments to Acts in parliament. At the time no one really paid attention however it has now suddenly become of interest to Debt Counsellors as a proposed amendment to the National Credit Act has been put forward by MP Mario Oriani-Ambrosini

You can read the proposed amendment here:

 

 

Ironically the DTI has recently been putting a lot of effort into making proposals in regard to the amending of the NCA. They and their representitives have been going around talking to industry role players. DCASA, AllProDC and theDCI have all been consulted. While they have meticulously been doing that it seems MP Oriani-Ambrosini has “jumped the gun” and made this proposal which constitutes only 2 minor changes to the whole Act.

 

The proposed changes are:

1) a change in the definition of consumer

2) the adding of an option to suspend interest on accounts under debt review for 5 years.

Obviously it will now be interesting to see what happens.

 

Comment on the proposed amendment should be sent to:

mcoetzee@parliament.gov.za
moriani-ambrosini@parliament.gov.za