NCA Chapter 5
National Credit Act, 2005 (Act No. 34 of 2005)
Chapter 5 : Consumer Credit Agreements
Chapter 5, consumer credit agreements, includes unlawful agreements and provisions, disclosure of credit agreements, Consumer’s liability, interest, charges and fees, Statements of account, Alteration of credit agreement, Rescission and termination of credit agreements.
Part A : Unlawful agreements and provisions
89. Unlawful credit agreements
90. Unlawful provisions of credit agreement
91. Supplementary requirements and documents
Part B : Disclosure, form and effect of credit agreements
92. Pre-agreement disclosure
93. Form of credit agreements
94. Liability for lost or stolen cards or other identification devices
95. Changes, deferrals and waivers
96. Address for notice
97. Consumer must disclose location of goods
98. Agreement attaches to substituted goods
99. Obligations of pawn brokers
Part C : Consumer’s liability, interest, charges and fees
100. Prohibited charges
101. Cost of credit
102. Fees or charges
103. Interest
104. Changes to interest, credit fees or charges
105. Maximum rates of interest, fees and charges
106. Credit insurance
Part D : Statements of account
107. Limited application of this Part
108. Statement of account
109. Form and content of statement of account
110. Statement of amount owing and related matters
111. Disputed entries in accounts
112. Dating and adjustment of debits and credits in accounts
113. Statement of settlement amount
114. Tribunal may order statement to be provided
115. Disputes concerning statements
Part E : Alteration of credit agreement
116. Alteration of original or amended agreement document
117. Changes by agreement
118. Reductions to credit limit under credit facility
119. Increases in credit limit under credit facility
120. Unilateral changes by credit provider
Part F : Rescission and termination of credit agreements
121. Consumer’s right to rescind credit agreement
122. When consumer may terminate agreement
123. Termination of agreement by credit provider