The Minister of Commerce and Consumer Affairs released the
Draft Responsible Lending Code today, along with questions for lenders and consumers to consider or answer in their submissions.
The Code elaborates on, and offers guidance on, the lender responsibility principles included in the Credit Contracts and Consumer Finance Amendment Act 2014.
Submissions on the Code close at 5pm on
Tuesday 23rd December 2014.
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.