In terms of Section 58, a registrant may cancel its registration by giving the National Credit Regulator written notice in the prescribed manner and form-
- stating the registrant’s intention to voluntarily cancel the registration; and
- specifying a date, at least five business days after the date of the notice, on which the cancellation is to take effect.
Additional Requirements for voluntary cancellation of registration
- Complete form 10.
- An affidavit confirming that you do not have existing customers OR that your consumers have been taken over by another DC (Please mention the Debt Counsellor name and NCRDC registration number).
- Provide acknowledgement letter from the Debt Counsellor receiving the files.
- Attach to the said notice the original registration certificate issued to the registrant by the National Credit Regulator.
- Attach to the said notice proof that all the affected consumers, payment distribution agents (PDAs) and all credit bureaux have been notified about the intended cancellation.