Examples of National Credit Act in a sentence
The Account Holder, surety or legal guardian hereby consents to the disclosure and exchange of personal financial information to a credit bureau or financial institution in accordance with the National Credit Act.
Such agreement does not constitute a credit facility envisaged in terms of section 8(3) of the National Credit Act (NCA) but shall be incidental credit as envisaged in terms of section 4(6)(b) of the NCA, to which the NCA will only apply to the extent as stipulated in section 5 of the NCA.
If at any time, and to the extent that, the interest rate does exceed the legal maximum in terms of the National Credit Act; then the interest rate (being linked to the Prime Interest Rate) shall be reduced accordingly.
The National Credit Act No 34 of 2005 The National Credit Act aims to promote a fair and transparent credit industry which requires the retention of certain documents for a specified period.
In that case it was held that a supply of land had been made prior to the company going into liquidation when the agreement became unconditional and the deposit, which had previously been held by the agent as stakeholder, was released to the company’s solicitors.