Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town branch of STBB. She is an admitted Attorney, Notary Public, Conveyancer and Insolvency Practitioner with many years of experience in the fields of property law, conveyancing and the laws relating to corporate compliance (especially in respect of the FICA and POPIA laws). Up until 2018 she was also head of the firm’s national marketing portfolio. She is a seasoned public speaker and presenter, both in person and online. She prepares text for the majority of STBB’s internal and external publications and is editor and co-writer for two pivotal publications in the South African real estate industry – the ABC of Conveyancing (JUTA) and Delport’s South African Property Law and Practice (JUTA).

Newsflash | Must I Register Even If I Lend Only R1 000?

The National Credit Act sets out the requirements that detail when a person lending money to another must formally register with the National Credit Regulator. Before the recent amendments to the Act, registration as a credit provider was only necessary when the principal debt owing to that money lender exceeded R500 000, or if that lender had entered into more than 100 credit agreements with borrowers.

In November 2016, these requirements were amended and as a result, there is now no minimum threshold at which a credit provider must register for arm’s length credit agreements. This means that if a credit provider (money lender) lends even R1 000 to a borrower, the money lender is required to register with the Commissioner as a credit provider. Failure to register as a credit provider may result in the agreement being declared void.

Certain exceptions exist and it is necessary in each instance to ascertain if the Act and the registration requirements are applicable. Contact STBB should you require assistance in this regard.

For the best legal advice and personalised service, let's talk
Subscribe to our monthly newsletters, subscribe