Regulatory Alerts2017-02-08
Added · Updated
Circular 2 of 2017 – Annual Renewal of Registration
Debt counsellors must pay annual renewal fees of R500 and branch fees of R250 by 31 July each year to maintain registration under the National Credit Act. Late payments incur penalties of R50 for delays under 15 days or R100 for delays exceeding 15 days, with registration automatically lapsing if fees remain unpaid after a 30-day grace period. Registrations that lapse due to non-payment cannot be reinstated through subsequent payments, requiring a new application and causing automatic transfer of consumer profiles to other counsellors.
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