Is the collection of levies an incidental credit agreement according the National Credit Act?

The answer is no, because:

  • It is not a credit Transaction; it is stipulated by the Act.
  • The HOA is just recovering budgeted-for expenses it has to pay according to the Act.
  • The HAO is no Credit Provider and the owner not a consumer.
  • There is no “Agreement” between the 2 parties; it is a legal Agreement governed by the Act.
  • Interest is paid in conjunction with the Act (Management Rule 31 (6); not as per agreement.