National Credit Act, 2005 (Act No. 34 of 2005)

Chapter 2 : Consumer Credit Institutions

Part D : National and provincial co-operation

37. Co-operative exercise of concurrent jurisdiction

1)        The Minister must consult with the responsible MEC of any province concerned-

a)        to co-ordinate and harmonise the functions relating to consumer credit to be performed by the National Credit Regulator and one or more provincial credit regulators; and

b)        to facilitate the settlement of any dispute between the National Credit Regulator and one or more provincial credit regulators.

2)        If this Act requires the provincial credit regulators to perform a particular function within their respective provinces, and-

a)        within a particular province, no provincial credit regulator has been established; or

b)        the Minister concludes on reasonable grounds that the provincial credit regulator within a particular province is unable to perform that function effectively,

the Minister must consult with the responsible MEC of that province to determine the steps to be taken to ensure the fulfilment of that statutory obligation.

38. Information sharing

1)        A provincial credit regulator must keep a register of each person whom it registers in terms of applicable provincial legislation.

2)        The register must include prescribed information relating to-

a)        the activities permitted under each such registration;

b)        the address of any premises in, on or from which registered activities may be engaged in, conducted or made available under registrations issued by it; and

c)        (c) any other prescribed information.

3)        Each provincial credit regulator must report to the National Credit Regulator, at the prescribed intervals, the information kept by that provincial credit regulator in terms of subsection (1).

4)        A credit regulator must, on request from another credit regulator, provide a copy of all prescribed information in its possession concerning a registrant or applicant for registration.

5)        The Minister, by regulation in accordance with section 171, may prescribe the timing, manner and form, and content of information to be provided in terms of this section.