{"id":86,"asset_id":"224","title":"Who needs to register? ","alias":"who-needs-to-register-cb","introtext":"<p>The Act requires registration of all credit bureaux. This excludes credit providers or employees of credit providers. An entity qualifies to register as a credit bureaux if it is engaged in the business of receiving reports or investigating credit applications, credit agreements, payment history or patterns, or consumer credit information relating to consumers or prospective consumers. These entities must also be in the business of compiling and maintaining data and issuing reports concerning consumers.<\/p>\r\n<ul>\r\n<li>For further information, refer to the relevant sections of the Act;<\/li>\r\n<li>For further information, refer to the relevant sections of the Regulations.<\/li>\r\n<\/ul>\r\n<p>Requirements for registering as a credit bureau as per Section 43, and regulation 4 of the National Credit Amendment Act, 19 of 2014:<\/p>\r\n<ol type=\"1\">\r\n<li>The National Credit Regulator will not register a person as a credit bureau unless that person -\r\n<ol type=\"i\">\r\n<li>Maintains and imposes appropriate qualifications, competence, knowledge and experience requirements for its employees or contractor who will have the authority to represent it in any function under the Act;<\/li>\r\n<li>Has sufficient human, financial and operational resources to enable it to function efficiently and to carry out effectively its functions in terms of the act or presents a credible plan to acquire or develop such resources;<\/li>\r\n<li>Has adopted procedures to ensure that questions, concerns and complaints of consumers or credit providers are treated equitably and consistently in a timely, efficient and courteous manner, or presents to the NCR a credible plan to acquire or develop those procedures and;<\/li>\r\n<li>Is registered with the South African Revenue Services<\/li>\r\n<\/ol>\r\n<\/li>\r\n<li>In addition to the requirements of section 46, a person may not be registered as a credit bureau if any person who has a controlling interest in the applicant is\r\n<ol type=\"i\">\r\n<li>a credit provider;<\/li>\r\n<li>a debt collection agency; or<\/li>\r\n<li>a person who conducts any disqualified business prescribed in terms of subsection (5).<\/li>\r\n<\/ol>\r\n<\/li>\r\n<li>A natural person may not be registered as a credit bureau.<\/li>\r\n<\/ol>","fulltext":"","state":1,"catid":"28","created":"2020-09-11 18:26:48","created_by":"915","created_by_alias":"","modified":"2020-09-11 18:26:54","modified_by":"915","checked_out":"915","checked_out_time":"2020-09-11 18:26:48","publish_up":"2020-09-11 18:26:48","publish_down":"0000-00-00 00:00:00","images":"{\"image_intro\":\"\",\"float_intro\":\"\",\"image_intro_alt\":\"\",\"image_intro_caption\":\"\",\"image_fulltext\":\"\",\"float_fulltext\":\"\",\"image_fulltext_alt\":\"\",\"image_fulltext_caption\":\"\"}","urls":"{\"urla\":false,\"urlatext\":\"\",\"targeta\":\"\",\"urlb\":false,\"urlbtext\":\"\",\"targetb\":\"\",\"urlc\":false,\"urlctext\":\"\",\"targetc\":\"\"}","attribs":"{\"article_layout\":\"\",\"show_title\":\"\",\"link_titles\":\"\",\"show_tags\":\"\",\"show_intro\":\"\",\"info_block_position\":\"\",\"info_block_show_title\":\"\",\"show_category\":\"\",\"link_category\":\"\",\"show_parent_category\":\"\",\"link_parent_category\":\"\",\"show_associations\":\"\",\"show_author\":\"\",\"link_author\":\"\",\"show_create_date\":\"\",\"show_modify_date\":\"\",\"show_publish_date\":\"\",\"show_item_navigation\":\"\",\"show_icons\":\"\",\"show_print_icon\":\"\",\"show_email_icon\":\"\",\"show_vote\":\"\",\"show_hits\":\"\",\"show_noauth\":\"\",\"urls_position\":\"\",\"alternative_readmore\":\"\",\"article_page_title\":\"\",\"show_publishing_options\":\"\",\"show_article_options\":\"\",\"show_urls_images_backend\":\"\",\"show_urls_images_frontend\":\"\"}","version":2,"ordering":"0","metakey":"","metadesc":"","access":"1","hits":"0","metadata":"{\"robots\":\"\",\"author\":\"\",\"rights\":\"\",\"xreference\":\"\"}","featured":"0","language":"*","xreference":""}