National Credit Amendment Act
24 July 2014
In a statement made on 22 July 2014, the Department of Trade and Industry advised that Regulations to standardise affordability assessments conducted by credit providers to prevent over indebtedness will be published for public comment before the end of July 2014.
The Regulations flow from amendments to the National Credit Act, signed into law in May 2014.
Currently, credit providers determine the models for affordability assessments.