Regulatory Alerts2026-06-17
Added
Credit Industry Code of Conduct to Combat Over-indebtedness
This Code requires Credit Providers to prevent over-indebtedness by conducting affordability assessments, reporting to credit bureaus, and adhering to National Credit Regulator guidelines. It mandates cooperation with debt counsellors and payment distribution agencies, prohibits terminating debt review proceedings while complaints are lodged with the National Credit Regulator, and requires annual reporting on debt restructuring statistics. The Code came into effect on 1 May 2013, replacing the previous version.