Finweek English Edition - - FEEDBACK - Her­man van Niek­erk

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.

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