Terms of Reference

The Task Team’s Terms of Reference were to:-

a) Identify the primary causes for the current backlogs and delays in finalising debt restructuring, as envisaged by the relevant sections of the National Credit Act;

b) Propose common standards and procedures which would facilitate the processing and finalisation of applications for debt counselling;

c) Establish mechanisms through which credit providers, debt counsellors and payment distribution agents can engage on operational and procedural problems in relation to the implementation of debt restructuring proposals;

d) Establish mechanisms through which disputes in relation to specific cases can be resolved;

e) Provide regular information through circulars or similar mechanisms to credit providers and debt counsellors on any standard procedures or documentation; and

f) Assist and advise the NCR with the objective of implementing an effective debt counselling process, as intended by the National Credit Act.