On 13 August 2025, the Department of Trade, Industry and Competition published the draft National Credit Act Amendment Regulations (Amendment Regulations) in the Government Gazette, proposing amendments to various Regulations under the National Credit Act 34 of 2005 (NCA), including Regulations 18,19 and 23A.
Scope of changes
The Amendment Regulations propose revisions to Regulation 18, which addresses the maintenance and retention of consumer credit information by the credit bureau, as well as Regulation 19, which pertains to the submission of consumer credit information to the credit bureau. Credit providers must take note of the proposed amendments to Regulation 23A, which sets out the criteria to conduct an affordability assessment, as there are significant proposed revisions (ie the Affordability Assessment Regulations).
Sub-regulation 23A(3) is intended to be amended to state that a credit provider, when assessing a consumer to determine whether the consumer has the financial means and prospects to pay the proposed credit instalments, may do so by considering the consumer's discretionary income or the financial means and prospects of the consumer,including reasonable revenue flow from a commercial activity funded by the credit agreement. The proposed amendments further allow for this type of assessment as an alternative where a credit provider takes practicable steps to validate the gross income of the consumer in terms of subregulation 23A(4).
It is further proposed that sub-regulation 23A(8) will provide that, in instances where the credit provider must calculate the consumer's existing means, prospects and obligations, the credit provider must also consider the realisation of assets as financial prospects as well as reasonable future revenue which may be generated by a commercial purpose funded by the credit agreement.
The amendment to sub-regulation 23A(9) provides that where a credit provider assesses the existing financial obligations of the consumer, the credit provider must utilise the minimum expense norms table under sub-regulation 23A(10). Sub-regulation 23A(9) has been further amended to state that the "table does not apply to small business and the realistic business expenditure must be disclosed by the consumer to the credit provider".
Comment period
Interested parties are invited to submit written comments no later than 30 days from the date of the publication, which means comments must be submitted by 12 September 2025.
Written comments may be addressed to the Director-General at the Department of Trade, Industry and Competition at the following address: Private Bag X84, Pretoria, 0001 or hand-delivered to 77 Meintjies Street, Block B, 1st Floor, Sunnyside, Pretoria. Comments can also be submitted electronically to Credit@thedtic.gov.za.
