Annual NCR registration fees due 31 July

All National Credit Regulator (“NCR”) registrants, including credit providers, credit bureaux, debt counsellors, payment distribution agents and alternative distribution agents are obliged to pay their annual registration renewal fees by 31 July 2017.

The payment of the registration renewal fees changed on 11 May 2016 when the Minister, Dr Rob Davies, published the final regulations on the determination of application, registration and renewal fees under Government Gazette Notice No 514, in the Government Gazette No 39981 (“Notice”).

In addition to the prescribed fee, registrants are required to pay a branch fee of R250 per location or premises at or from which the registrant conducts its registered activities.

The annual registration fee (including the branch fees) may be paid to the NCR by electronic transfer or by direct deposit. The registrant’s registration number (e.g. NCRCP, NCRCB or NCRDC) should be used as the reference number, and proof of payments sent to the NCR’s registration department via email.

NCR Circular 4 of 2017, published in March 2017, warned registrants against fraudsters who claim that the NCR’s banking details have changed. Please ensure that you use the correct information published on the Regulator’s website.

The NCR made provision for a grace period of 30 days after 31 July, but there are penalties payable which can be up to 20% of the registration renewal fees. It is advisable to adhere to the deadlines prescribed by the NCR.

Failure by a registrant to make payment of the prescribed fees within the grace period, will result in the automatic lapsing of its registration.

Should you have any queries, please contact Gerrit Viviers on 021 883 8000 or by email to gviviers@moonstonecompliance.co.za

You can also address queries or requests to the NCR directly on 011 554 2766 or registrations_info@ncr.org.za.