South Africa: Consolidated Regulations

You are here:  SAFLII >> Databases >> South Africa: Consolidated Regulations >> DETERMINATION OF THRESHOLDS

| Noteup

DETERMINATION OF THRESHOLDS

Download original files

Support SAFLII

PDF format

RTF format

Last checked: 9 October 2019

NATIONAL CREDIT ACT

Act 34 of 2005.

DETERMINATION OF THRESHOLDS
[Updated to 11 May 2016]

GeN 713, G. 28893 (c.i.o 1 June 2006),
GoN 513 in G. 39981 (c.i.o 11 May 2016).


In terms of sections 7(1), 10(1) and 42(1) of the National Credit Act, 2005 (Act 34 of 2005) I, Mandisi Mpahlwa, Minister of Trade and Industry, do hereby make the determination of thresholds as set out in the schedule hereto.

SCHEDULE

  1. Definitions

In this Notice—

“the Act” means the National Credit Act, 2005 (Act 34 of 2005) and the Regulations made under the Act.

  1. Threshold required in terms of section 7(1)(a)

The threshold required to be determined in terms of section 7(1)(a) of the Act is R1 000 000.00.

  1. Threshold requirement in terms of section 7(1)(b)

(1) The lower threshold required to be determined in terms of section 7(1)(b) of the Act is R15 000.00.

(2) The higher threshold required to be determined in terms of section 7(1)(b) of the Act is R250 000.00.

  1. Threshold required in terms of section 10(1)

The threshold required to be determined in terms of section 10(1)(b)(i) of the Act is R15 000.00.

  1. Threshold required in terms of section 42(1)

The threshold required to be determined in terms of section 42(1) of the Act is nil (R0).

[Item 5 subs by item 2 of GoN 513 in G. 39981.]