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The National Credit Act, No 34 of 2005 (Act), in the words of Nicholls AJA, “is not a model of clarity, has been bemoaned by the High Court, this Court and the Constitutional Court on a number of occasions”.
The Minister of Finance announced in his 2017 Budget Review that the regulations defining electronic services would be broadened. Following the revised draft regulations which were published on budget day 2018, National Treasury published ‘final’ regulations which significantly broaden the definition of ‘electronic services’.
On 28 September 2018, the Prudential Authority (PA) released its Regulatory Strategy for the period 2018–2021.
Debt restructuring and relief within the business environment have been undertaken since time immemorial. Given the current economic climate, such debt restructuring and relief has increased and thus received concomitant increased attention from the relevant tax and finance authorities.