Regulatory Alerts2019-06-10
Added · Updated
Circular 03 of 2019 - Updates from the Credit Industry Forum
The National Credit Regulator approves guidelines for implementing debt review processes for joint bond/mortgage agreements and Pension Backed Lending, confirming that non-applying parties must be cited in applications and that Pension Backed Loans constitute credit agreements under the National Credit Act. The Debt Restructuring Rules System implements two functional changes on 13 and 14 April 2019, including a new file type for debt counsellors and adjustments to Vehicle and Asset Finance terms. Revised withdrawal guidelines are withheld pending a High Court matter, while the regulator requests written submissions on annual review factors by 30 April 2019.
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