Voluntary cancellation of registration

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

  1. Complete form 10.
  2. 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).
  3. Provide acknowledgement letter from the Debt Counsellor receiving the files.
  4. Attach to the said notice the original registration certificate issued to the registrant by the National Credit Regulator.
  5. 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.