Usury Act, 1968 (Act No. 73 of 1968) [Repealed]

 

Act

1. Definitions

2. Maximum annual finance charge rates which may be charged in connection with a money lending transaction, a credit transaction and a leasing transaction

2A. Limitation of finance charges in respect of money lending transactions secured by certain mortgage bonds

2B. Limitation of finance charge rate at conclusion of contract

3. Compulsory disclosure of finance charges

3A. Particulars in instrument of debt relating to payment of outstanding principal debt and finance charges before due date

4. Limitation of sum recoverable on default or deferment of payment

4A. Sum recoverable on expiry of period of notice by moneylender, credit grantor or lessor

5. Limitation of sum recoverable from borrower, credit receiver or lessee

5A. Recovery of certain moneys not permitted by section 5

6. Reduction of instalments in the event of advanced payment, refinancing or consolidation of debt

6A. Payment of portion of principal debt and finance charges before due date

6B. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain money lending transactions or credit transactions

6C. Consequence of certain agreement relating to change of amount of instalments payable in terms of certain money lending transactions or credit transactions

6D. Consequence of certain agreement relating to consolidation of principal debts and finance charges payable in terms of several money lending transactions or credit transactions

6E. Replacement of property in terms of certain leasing transactions and change of amount of instalments payable in terms of certain leasing transactions

6F. Termination of leasing transactions before expiry of lease

6G. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain leasing transactions in the event of termination of such transactions

6H. Consequence of payment before due date without notice of outstanding principal debt and finance charges in terms of certain leasing transactions in the event of termination of such transactions

6I. Consequence of notice relating to payment before due date of outstanding principal debt and finance charges in terms of certain leasing transactions if such transactions not terminated

6J. Consequence of payment before due date without notice of outstanding principal debt and finance charges in terms of certain leasing transactions if such transactions not terminated

6K. Money value of leased property at expiry of lease or termination of leasing transaction

6L. Position regarding recovery of additional finance charges and other costs

7. Recovery of an amount overpaid in connection with money lending transaction, credit transactiono or leasing transaction

8. Position of bona fide holder for value of instrument of debt

9. Lower rate under another law not affected

9A. Effect of Act on other statutes

10. Moneylender or credit grantor to furnish borrower or credit receiver with copy of instrument of debt with certain information

11. Legal proceedings for recovery of debt incurred in connection with a money lending transaction, a credit transaction or a leasing transaction

11A. Legal proceedings for recovery of costs for repair or maintenance of leased property

12. Delegation and assignment of powers and duties

12A. Assignment of functions and powers by Minister

13. Powers of inspection

14. Furnishing of information to the Registrar

15. Exemptions from the provisions of this Act

15A. Exemptions by Minister

16. Regulations

16A. Regulations in respect of housing loan

17. Penalties

17A. Penalty for failure to furnish information to Registrar

18. Jurisdiction of magistrate's court

18A. Statement of question of law for opinion of Supreme Court

19. Application of Act to South-West Africa (Repealed)

20. Repeal of existing laws

21. Short title and date of commencement

Schedule