The article Getting the price you want when you sell ( Finweek, 6 June) is misleading and factually incorrect. It’s mentioned that interest rates should be governed by the Usury Act. This Act was repealed long ago and replaced by the National Credit Act.
The Credit Act stipulates that if someone grants more than 100 loans or all the loans together come to more than R500 000, then that person should register as a lender with the NCR – refer to section 43. I suggest that the whole article should be rewritten giving the correct facts.