PROPOSED NATIONAL CREDIT CODE AMENDMENTS
The National Credit Regulator (NCR) has published a notification on the 23rd September 2012 advising that it intends to review the Credit Industry Code to Combat Over Indebtedness, Code of Conduct for Debt Review and Payment Distribution Agencies Code of Conduct for Debt Review. The notice invites debt counsellors, credit providers, credit bureaux and payment distribution agencies to make written submissions to the NCR by no later than 15 October 2012 in respect of any proposed changes. Should you have any queries contact Simone Monty at Eversheds on 011 775 6335 or email SimoneMonty@eversheds.co.za.
DATA PRIVACY LAW UPDATE
With the data privacy law (POPI) set to be promulgated by Parliament, law firm Eversheds has cautioned that all businesses should be aware of the significant responsibilities it places upon them. The implementation of the act will not simply require information security but will have a substantial impact on business processes throughout organisations. The proposed definitions of “personal information” and “processing” are very wide and make it clear that the reach of POPI will extend to most companies since it includes any operation or activity or set of operations concerning personal information and will not be limited to specifically listed information. POPI will also apply to the processing of personal information belonging to juristic persons. Its scope is therefore much wider that the Consumer Protection Act which only protects small juristic persons.
Should you have any questions and/or queries please don’t hesitate to contact Simone Monty at Eversheds on 011 775 6335 or email SimoneMonty@eversheds.co.za