Obviously the hot news at the moment in the credit management profession in South Africa is the National Credit Act no. 34 of 2005 .
We will try keep you advised and informed with as much news and insight into the Act as possible. We previously reported on the release of the draft regulations. Now Francis Newham, director and Sam Robertson, associate with law firm Cliffe Dekker Inc. have done an article on their website, which highlights some of the administrative challenges posed by the regulations.

The Government announced the appointment of Gabriel Davel as CEO of the National Credit Regulator. This is the latest of a number of development around National Credit Act, which has included the publication of the draft regulations and the signing into law on the 15th March 2006 of the Act.
Davel is a South African-born chartered accountant and former CEO of the Micro Finance Regulatory Council (MFRC) . After serving articles with Ernst & Young in Johannesburg, Davel completed a masters programme in development studies at the Institute of Social Studies …

As expect the interest rates remained unchanged by the Reserve Bank governor, after the quarterly meeting of the Monetary Policy Committee on the 13th April 2006.
This means that the repo rate, the rate at which the Reserve Bank lends money to commercial banks, was kept at 7%. In turn the prime lending rate stays at 10.5%.

There is an interesting article by Eric Levenstein, a director of the law firm of Werksmans, on the Website FA News entitled “Granting Credit in terms of the proposed new national credit bill”. The article takes a brief look at the credit granting requirements in terms of the new bill.

The Supreme Court of Appeal in the case of Bafana Finance Mabopane v Makwakwa [2006] SCA 49 (RSA) has delivered its judgment.
In this case a micro-lender tried to enforce a clause in his loan agreement with a debtor which:
a) the debtor waived his right to apply for an Administration Order in terms of Section 74 of the Magistrate’s Court Act; and
b) excludes the micro-lenders loan from any Administration order the debtor may obtain.
An administration order is a legal solution in terms of Section 74 of the Magistrates Court Act for the poorer …

The Supreme Court of Appeal in the case of Bafana Finance Mabopane v Makwakwa [2006] SCA 49 (RSA) has delivered its judgment.
In this case a micro-lender tried to enforce a clause in his loan agreement with a debtor which:
a) the debtor waived his right to apply for an Administration Order in terms of Section 74 of the Magistrate’s Court Act; and
b) excludes the micro-lenders loan from any Administration order the debtor may obtain.
An administration order is a legal solution in terms of Section 74 of the Magistrates Court Act for the poorer …

The right of a creditor to realise the property of its debtor without first obtaining the sanction of the court is called parate executie in our law.
This right has now been challenged by the Constitutional provisions of Section 34 of the Constitution, which provides that:
‘Everyone has the right to have any dispute that can be resolved by the application of law decided in a fair public hearing before a court or, where appropriate, another independent and impartial tribunal or forum.’
Initially the case law on the subject seemed to suggest that …

The right of a creditor to realise the property of its debtor without first obtaining the sanction of the court is called parate executie in our law.
This right has now been challenged by the Constitutional provisions of Section 34 of the Constitution, which provides that:
‘Everyone has the right to have any dispute that can be resolved by the application of law decided in a fair public hearing before a court or, where appropriate, another independent and impartial tribunal or forum.’
Initially the case law on the subject seemed to suggest that …