CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Deadline looming for credit provider registration
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Deadline looming for credit provider registration PDF Print E-mail
Tuesday, 08 November 2016
As from the 11th November 2016, all persons and entities granting credit should be registered with the National Credit Regulator (NCR), says Nthupang Magolego, Senior Legal Advisor at the NCR.  During May 2016, the Minister of Trade and Industry, Dr Rob Davies, determined a new threshold of NIL (0) for the purpose of determining whether or not a credit provider is required to be registered with the National Credit Regulator in terms of the National Credit Act (NCA). 

Previously, a person or entity was compelled to be registered only if the value of that person’s or entity’s credit agreements amounted to R500 000 or if that person or entity concluded 100 credit agreements. “This threshold has been effectively repealed”, says Magolego.

“The implication of the new threshold is that as from the 11th November 2016, any person or entity that is involved in the provision of credit is now required to register irrespective of the number of agreements and / or the value of the principal debt,” reiterates Magolego.

She says there will be consequences for people or institutions that plan on extending credit without being registered. “Credit agreements concluded by such unregistered credit providers will be unlawful,” says Magolego.

“We encourage consumers to only use registered credit providers when seeking credit as doing so will advance their rights as outlined in the NCA,” she concludes.
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197