3.1.4.1
Covering Report
p. 12
The absence
- (a) Appropriate, complementary and enforceable codes of conduct for credit providers (in terms of section 48 (1) of the Act), debt counsellors (not required under the Act but possible under the registration process) and payment distribution agents (not required under the Act but possible in terms of the accreditation agreements);
- (b) Appropriate institutional arrangements capable of:
- (i) The negotiation of collaborative arrangements between the stakeholder groups under the codes
- (ii) The execution of any collaborative obligations of stakeholder groups under the code;
- (ii) The monitoring of and reporting on any compliance by the stakeholders under the code with the code;
- (iii) The receipt and resolution of complaints against individual stakeholders under the code, where possible;
- (iv) The resolution of unresolved disputes.
- (c) Mutually agreed conduct rules for the three key stakeholders in the process (credit providers, debt counsellors, and payment distribution agents) given: the considerable interdependency of the three stakeholder groups in making the process work;
- (d) Complete eligibility and affordability assessment and reckless lending guidelines for debt counsellors;
- (e) Any functional requirement standards for debt counsellor systems in order to make sure that these systems enable the debt counsellors to:
- (i) Comply with the assessment guidelines;
- (ii) Produce eligibility and affordability assessment outcomes and debt rearragement proposals that are standardised in format and content;
- (iii) Apply agreed standards and debt re-arrangement rules consistently and with the neccessary systems integrity.
The absence of:
Cite this clause
National Credit Regulator. (2015). Covering Report, clause 3.1.4.1: The absence. Guideline 001/2015 (Debt Review Task Team Agreements 2010), p. 12.Related clauses
Previous
3.1.4 Lack of co-operation between credit providers and debt
Next
3.1.5 Possible abuse of the process by consumers
Based on NCR Guideline 001/2015, p. 12. For NDRC's interpretation and application, see our debt counselling overview. Download original PDF.