Committee Notice Details

Committee Notice Details

Have Your Say: Specific Clauses of the Draft National Credit Amendment Bill, 2018 and the Memorandum on the Objects of the Bill

The Portfolio Committee on Trade and Industry hereby publishes specific clauses of the Draft National Credit Amendment Bill, 2018 and the Memorandum on the Objects of the Bill for public comment. The specific clauses are as follow:

  • Clause 12(b) regarding the powers of the Court to reduce interest rates, charges and fees to zero for the period in 86A(6)(d) (5 years).
  • Clause 29(a) iro the consultation between the Minister of Trade and Industry and the Minister of Finance on funding for financial literacy and capability programmes.
  • Clause 29(b) iro the new subsection (2B) regarding an adjustment to--
  • the maximum gross income figure (clause 1 – definition of “debt intervention applicant”, par (b)) in respect of the longer term debt intervention measure set out in clause 13 – section 86A(6)(d) read with clause 14(b) – section 87(1A);
  • the maximum total unsecured debt (clause 13 – section 86A(1)) in respect of the longer term debt intervention measure set out in clause 13 – section 86A(6)(d) read with clause 14(b) – section 87(1A).

This adjustment in respect of the longer term debt intervention measure must be read with clause 13 – section 86A(12)(a) and clause 15 – section 87A, which clause shows that in respect of the shorter term measure as set out in section 87A, the amounts above may not be adjusted.

Members of the public are invited to submit written comment on these clauses only by 11 June 2018. Comments received after the closing date will not be considered. Should you require a copy of the draft amended Bill, please contact the Committee Secretaries (details below).

All correspondence should be addressed to Ms J Fubbs, Chairperson: PC on Trade and Industry and marked for the attention of Mr A Hermans, Box 15, Parliament, Cape Town 8000.

Kindly direct all enquiries and written submissions to the Committee Secretaries, Mr A Hermans, Mr T Madima, and Ms O Siebritz.

By email:  ahermans@parliament.gov.za | tmadima@parliament.gov.za | osiebritz@parliament.gov.za

By telephone: Mr A Hermans (021) 403 3776 or 083 709 8482

Mr T Madima (021) 403 3822 or 083 709 8419