National Credit Regulator releases new regulations and affordability guidelines
August 7, 2014
Consumer Protection Act
September 2, 2014
The Consumer Protection Act ("CPA") came into effect on the 1st of April 2011.
The CPA has a bearing on each and every individual in South Africa whether as a consumer or as a supplier and most of the focus of this legislation has been pointed towards the consumer and the new rights they may now assert. BUT what does this mean for suppliers who represent the other side of the coin? Both consumers and suppliers are required to achieve compliance in relation to the changing consumer protection legislative landscape in South Africa.
The CPA is not applicable to juristic persons as CONSUMERS if over the threshold (R2million) as a but is always applicable to juristic persons as SUPPLIER.
There are nine basic consumer rights, all of which have important implications not only for the consumer, but also the supplier to ensure that they do not breach the consumers rights.