Having obtained Cabinet approval, the Department and Minister of Trade and Industry has published in the Government Gazette (29 May 2013) and invited comment on the Draft National Credit Act Amendment Bill 2013 within 30 days. The Amendment Bill amends:
- certain definitions in the 2004 principal act
- the functions of the National Credit Regulator (NCR) and its officials
- measures relating to debt counsellors and their conduct
- the powers of the NCR to suspend certain reckless credit agreements
- requirements for credit providers to adhere to