; have unsecured debt amounting to R50,000; and who have been found to be critically indebted by the National Credit Regulator.
DA MP and spokesperson on trade and industry Dean Macpherson said on Thursday the party is dismayed that Ramaphosa has signed into law the “deeply flawed and possibly unconstitutional” bill, drawn up by the portfolio committee on trade and industry in the fifth Parliament. Macpherson said to make matters worse, the state has no idea what the cost to the economy and credit market will be, and has been unable to clarify the cost implications for the country in implementing the bill, including where the R100m will come from to fund the National Credit Regulator and National Consumer Tribunal to support their new mandates to process debt-relief applications.
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