February | 2014 | Cecil Kilpin
This entry was posted in Taxation and tagged 6A Medical scheme fees tax credit, Medical tax credit, Medical taxation on February 10, 2014 by Shrek2014.	Standard acknowledgements of debt and the National Credit Act (NCA)
The new NCA not only regulates instalment sale agreements and lease agreements in respect of movables as was done by its predecessor, the repealed Credit Agreements Act 75 0f 1980. The NCA applies to a much wider variety of credit agreements and has no monetary cap. Instead of instituting legal action a creditor often gets a debtor to sign an acknowledgement of debt to facilitate repayment.
This document could contain a provision for instalments and interest and fees. The question arises whether this agreement in confirmation of an existing obligation constitutes a credit agreement for purposes of the NCA.
The parties to a credit agreement governed by the NCA are referred to as the “consumer” and the “credit provider” and these definitions should be considered. An acknowledgement of debt normally refers to a historical event of cause and does not constitute a credit guarantee or any of the named credit transactions such as a pawn agreement, discount agreement, incidental credit agreement, instalment agreement, lease, secured loan or mortgage agreement or credit facility.
However, the fact that it contains a deferral of payment and requires the payment of interest, fees and other charges, will cause it to fall within the ambit of the catch-all term “credit transaction” provided for in Section 8(4)(f) of the Act.
Section 2(1) provides that the Act must be interpreted in a manner that gives effect to the purposes set out in Section 3. The question really is whether the legislature intended the rearrangement or the repayment terms of an existing debt, for instance where money has already been advanced to a consumer a considerable period of time ago or where damages were suffered as a result of a delict or breach of contract, to constitute a credit agreement or transaction for purposes of the NCA.
Due to the elements of deferral and the charging of interest, fees and other charges in a standard acknowledgement of debt, and in the absence of any express or implicit indication to the contrary, it seems an inescapable conclusion that the agreement could be defined as a credit agreement within the meaning of the NCA. The relevance of this is that it might be that the credit provider would be required to register as such with the National Credit Regulator, affordability assessment would have to be done prior to conclusion, the consumer could become overindebted and apply for debt review, and many other onerous requirements will be applicable.
It is submitted that where the cause of action in relation to which the acknowledgement of debt was entered into is based on a contract or agreement which constitutes a credit agreement, the insertion of a no-novation clause into an acknowledgement of debt will not serve to exclude the agreement subsequently concluded, from the ambit of the NCA.
However, where the debt initially arose as a result of a delict, the insertion of a no-novation clause might have the effect of preserving the original cause of action, namely the delict, and thus cause the matter to fall outside the scope of the NCA.
One thing to be kept in mind is that a “consumer”, in respect of a credit agreement to which the NCA applies, means The party to whom goods or services are sold under a discount transaction, incidental credit agreement or instalment agreement;
The party to whom money is paid, or credit granted, under a pawn transaction;
The party to whom credit is granted under a credit facility;
The mortgagor under a mortgage agreement;
The borrower under a secured loan;
The lessee under a lease;
The guarantor under a credit guarantee; or
The party to whom or at whose direction money is advanced or credit granted under any other credit agreement.
This definition might provide the answer as the acknowledgement of debt might, as a different cause of action, not qualify the consumer under the above definition.
So, too, is the underlying cause of action to the acknowledgement of debt, and it deserves no debate that signing an acknowledgement of debt is not something to go about without due consideration.
Should a court be convinced that the written acknowledgment of debt is subject to the NCA the court could be required to make a ruling in terms of Section 130(4)(b) of the NCA, which states:
In Adams v SA Motor Industry Employers Association 1981 (3) SA 1189 (A) at 1198 – 1199, the court held that there is a presumption against novation and that, where novation was not intended, it was possible for two obligations to co-exist. These obligations would be interdependent, and the creditor does not have a free election to enforce the original obligation.
An acknowledgment of debt, sometimes referred to as an IOU, is evidence of a debt which is due, but differs from a promissory note as it does not contain an express promise to pay. However, where the acknowledgment of debt is coupled with an undertaking to pay, it will give rise to an obligation in terms of that undertaking.
This entry was posted in Laws and Acts and tagged Credit Agreements Act 75 0f 1980, National Credit Act, NCA, social and economic welfare of South Africans on February 10, 2014 by Shrek2014.	POPI-Wet
Die konsepwet op die Beskerming van Persoonlike Inligting, waarna algemeen verwys word as die POPI-wet, sal binnekort wetgewing word en is bedoel om die prosessering van persoonlike inligting te reguleer. Dit moet saamgelees word met ander relevante wette soos:
• ELEKTRONIESE KOMMUNIKASIE EN TRANSAKSIES Wet 25 of 2002 (‘ECT’)
• BEVORDERING VAN TOEGANG TOT INLIGTING Wet 2 of 2002 (‘PAIA’)
• REGULERING VAN DIE ONDERSKEPPING VAN KOMMUNIKASIES Wet 70 of 2002 (‘RICA’)
• VERBRUIKERS BESKERMINGS Wet 68 of 2008 (‘CPA’)
Gegewe die e-handel en tegnologie wat deur en tussen besighede gebruik word, word persoonlike Inligting van beide werknemers en kliënte al hoe makliker toegangklik vir derde partye.
Aanspreeklikheid; Beperking op prosessering; Spesifisering van die doel; Beperking op verdere prosessering; Kwaliteit van inligting; Openheid; Sekuriteitsbeheermaatreëls; Deelname van die persoon waarop die inligting betrekking het.
Die doel is om deursigtigheid te bevorder m.b.t watter inligting versamel kan word en hoe dit verwerk gaan word. Dit mag dalk die einde beteken van al die ongevraagde bemarkingsoproepe en rommelpos wat ons op ‘n daaglikse basis ontvang.
Prosessering beteken breedweg enigiets wat gedoen word met persoonlike Inligting, insluitend versameling, gebruik, bewaring, disseminasie, modifikasie of vernietiging (ongeag of sodanige prosessering outomaties is al dan nie).
Die POPI-wet strook met soortgelyke wetgewing wat in 70 tot 80 ander lande bestaan. Suid-Afrika is nou gereed om te voldoen aan internasionale standaarde vir die versameling en hantering van persoonlike inligting.
Die Wet beskerm nie net die manier waarop inligting gebruik en/of hergebruik word deur die ontvanger van die inligting nie, maar die party wat die inligting versamel het ook die verantwoordelikheid om seker te maak dat dit akkuraat en aktueel is en nie misleidend is nie.
suiwer huishoudelike of persoonlike aktiwiteite
inligting wat reeds genoegsaam gedeïdentifiseer is
sommige staatsfunksies, insluitend kriminele vervolging, nasionale sekuriteit ens.
joernalistiek onderworpe aan ‘n etiese kode
This entry was posted in Laws and Acts and tagged Beskerming van Persoonlike Inligting, ELEKTRONIESE KOMMUNIKASIE EN TRANSAKSIES Wet 25 of 2002 (‘ECT’), PAIA, POPI on February 10, 2014 by Shrek2014.	Welkom by ons nuwe nuusbrief!
Welkom by die eerste uitgawe van ons maandelikse nuusbrief. Die doel van ons nuusbrief, is om aan u interessante besigheidsartikels en waardevolle inligting, relevant tot ons wye reeks dienste, aan u te bring soos:
inligting oor die SAID, hul prosedures en praktyke;
nuttige en toepaslike besigheidswenke;
‘n Samevatting van die belangrikste inligting van belang vir besigheid en die algemene publiek; en
inligting betreffende ons firma en sy aktiwiteite.
Ons vertrou dat u dit die moeite werd sal vind om die nuusbrief te lees en nooi u uit om kommentaar te lewer oor enigiets in die inhoud of om met ons te skakel vir verdere inligting of ander ondersteuning.
Meer oor ons kantoor
Die kantoor is in Vredenburg geopen in Oktober 1973. Kantoor spasie was vir ‘n geruime tyd gehuur in die Hoofstraat. Na mate die kantoor gegroei het en ontwikkeling begin plaas vind het in Vredenburg, het die kantoor na die Mediese Sentrum verskuif in 1996, waar ons vir 12 jaar kantore gehuur het. Laat in 2007 het ons, ons eie eiendom gekoop te Houtstraat 22, Vredenburg en omskep in kantore. Die nuwe kantoor het ons offisieel in Maart 2008 geopen.
Meer oor ons personeel
Cecil Kilpin bied opleidingsgeleenthede vir klerke wat hul leerlingskap wil doen en het ons tans ‘n paar ingeskrewe klerke wat besig is met hul in diens opleiding en wat deeltyds studeer. Ons span bestaan tans uit 13 personeellede. Hulle is :
Susarha la Grange
Debiteure / Admin
Carin la Grange
Hester de Witt
Klerk / Admin
Maryke van Aarde
Hentian du Preez
Die firma se filosofie
Cecil Kilpin & Kie. vind sy oorsprong reeds in 1902 en hul primêre doelwit is om saam met elke kliënt te werk om te verseker dat sy finansiële belange beskerm en versterk word.
Om die bogenoemde doelwit effektief te kan uitvoer, is dit altyd die vennote se “modus operandi” om ‘n sterk persoonlike verhouding met die firma se kliënte op te bou, gegrond op ‘n wedersydse vertroue en respek binne die raamwerk van vertroulikheid. In die uitvoering van ons take handhaaf ons hoë tegniese standaarde gebaseer op ‘n wye spektrum van kommersiële ondervinding en verskaf ons gepaste oplossings vir alledaagse probleme. Die samewerking en lojaliteit wat ons ontvang van ons kliënte, getuig van ons doelgerigtheid om die voorgenoemde doelwitte te bereik.
This entry was posted in Internal news and tagged Cecil Kilpin & Kie., Welkom by ons nuwe nuusbrief! on February 10, 2014 by Shrek2014.	Welcome to our new newsletter!
Welcome to our first edition of our monthly newsletter. The purpose of our newsletter, is to bring you interesting business articles and valuable information, relevant to our wide range of services, such as:
Information regarding SARS, their procedures and practices;
Handy and relevant business tips;
A summary of the most important information relevant to business and the general public; as well as
Information regarding our firm and it’s activities.
We trust that you will find it worthwhile to read the newsletter and invite you to make comment on any of the articles or to either contact us for more information or for further information on a subject.
The Vredenburg office was opened in October 1973. For a number of years, office space was rented in the Main Street. As the business grew and new developments started in Vredenburg, our office moved to the Medical Centre in 1996, there we rented office space for 12 years. In late 2007 we bought our own premises at 22 Hout Street, Vredenburg and converted it to offices. The new office was officially opened in March 2008.
Cecil Kilpin offers learnership opportunities for clerks that would like to do their learnerships and as such we currently have a few article clerks that are busy with their in work training and part-time studies. Our team currently consist of 13 personnel members. They are:
Job title Years in service
Cecil Kilpin & Co. can trace its roots back to 1902, and their primary philosophy is to work with each of their clients to ensure the protection and enhancement of their financial interest.
In order to carry out the aforementioned philosophy effectively it has always been the partners “modus operandi” to build a personal relationship with each of the firm’s clients, based on mutual trust and respect within the framework of confidentiality. In doing the aforementioned we offer high technical standards based on a wide range of commercial experience and tailor made realistic solutions to today’s problems. The co-operation and loyalty received from our clients testifies to the commitment which we have to the aforementioned objectives.
This entry was posted in Internal news and tagged About our personnel, Cecil Kilpin & Kie. / Co. on February 10, 2014 by Shrek2014.	Hello world!
This entry was posted in Uncategorized on February 10, 2014 by Shrek2014.	Search for: