Quote Originally Posted by Mike C View Post
If you fail to register as a credit provider, the NCA as it stands compels courts (they have no discretion) to both -

* Declare your agreement void, and

* Order that your right to reclaim the loan be cancelled or forfeited to the state. It is this cancellation/forfeiture provision that was under scrutiny in this case. And, as ruled originally by the High Court and now confirmed by the Constitutional Court, it is invalid - unconstitutional for breach of our Constitution’s prohibition against “arbitrary deprivation of property”.
Reckless granting of credit carries a similar penalty. I wonder if this principle also applies?