Proposed amendments to credit information
Amendment of regulation 18 of the Regulations
Regulation 18 is hereby deleted, and replaced with:
Regulation 18(4)(c) "considering a candidate for employment in a position that requires
honesty in dealing with cash or finances."
Amendment of Regulation 19 of the Regulations
Regulation 19 of the Regulations is hereby amended by addition of the following
"(6) No source of information as set out in section 70(2) of the Act and regulation 18(7)
may submit adverse or other information to a credit bureau in respect of a debt that
has prescribed in terms of the Prescription Act 68 of 1998.
(7) No source of information shall submit consumer credit information comprising
adverse information to a credit bureau unless the required minimum monthly or such
other instalment payment has not been paid for a minimum period of at least three
months consecutive billing cycles.
(8) No source of information shall submit consumer credit information comprising
adverse information to a credit bureau without first giving the consumer the notice
contemplated in regulation 19(4).
(9) No source of information shall submit consumer credit information comprising
adverse information if any arrears owing on an account are settled within the period
of the notice contemplated in regulation 19(4) or if the consumer has disputed
liability for the outstanding amounts, within the period contemplated in regulation
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(10) Upon settlement of the amount in arrears, which form the subject matter of the
adverse information, the source of the data must, in its next data submission to the
credit bureaus, advise the credit bureaus that the arrear amounts have been settled.
(11) Upon the settlement of the capital amount of a civil court judgment and
administration order, the source of data must advise the credit bureaus that the
judgment or order has been settled within the period prescribed in section 71(A) of
(12) A consumer credit record may not be accessed by an employment agency,
recruitment consultant, staffing company or employer unless they certify that any
and all requests for consumer credit records relate to positions requiring honesty in
dealing with cash or finances and the job descriptions of such positions are clearly
(13) A credit provider must submit credit information to the credit bureaus in the manner
and form prescribed by the National Credit Regulator through conditions of
registration and any guidelines that may be issued by the National Credit Regulator
from time to time."