The Minister of Trade and Industry promulgated a new Exemption Notice (Notice 1407 of August 2005) on 08 August 2005, with which lenders registered with the Micro Finance Regulatory Council (MFRC) need to comply. The Exemption Notice is the legislation governing money lending transactions excluded in terms of S15A of The Usury Act, 1968 (Act No. 73 of 1968).
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