Regulatory Alerts2021-06-07
Added · Updated
Circular 3 of 2023 - Annual renewal of registration
National Credit Regulator registrants must pay the annual registration renewal fee by 31 July each year, with a 30-day grace period subject to a penalty fee. Failure to pay within this grace period results in the automatic lapse of registration, prohibiting the registrant from offering regulated services and rendering subsequent business activities unlawful. Registrants are mandated to use their registration number as the payment reference and ensure payments cover all business premises; incorrect references or payments to wrong accounts may also cause registration lapse. Re-registration after lapse requires a new application, and Debt Counsellors' clients are automatically transferred to other counsellors upon lapse.
Topics
Share