It is now a matter of days before a new era of company regulation and consumer affairs regulation starts.
It is very exiting times for South African citizens. It will bring us on par with legislative and policy development of the developed world. It’s also an era of the proper regulation and enforcement of this legislation. As with any new business the new commissions will probably be off to a slow start but will certainly get momentum very soon.
If one looks at the success over the past years of the competition commission and the national credit regulator the future of enforcement is bright.
“Speaking at the official launch of the National Consumer Commission (NCC) in Erasmia near Pretoria, Mohlala said the commission, which would begin operating on April 1, would “commit to a six-week turnaround for complaints to be addressed and a six-month turnaround for complaints to be resolved.”
“The Companies Amendment Bill has been adopted by the portfolio committee on trade and industry, the department of trade and industry says.”