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COL3704 Assignment 3 (COMPLETE ANSWERS) Semester 2 2024 - DUE 2024
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COL3704 Assignment 3(COMPLETE ANSWERS)
Semester 2 2024 - DUE 2024
100% GUARANTEED
, COL3704 Assignment 3 (COMPLETE ANSWERS)
Semester 2 2024 - DUE 2024
QUESTION 1 Create a mind map of the functions that the
National Credit Regulator is legislated to perform.  (5)
To create a mind map of the functions that the National Credit Regulator (NCR) is legislated to
perform, let's start by identifying the key functions outlined in the National Credit Act (NCA).
The NCR is responsible for the regulation of the South African credit industry. Below is a
conceptual breakdown:
1. Regulation and Supervision of Credit Providers
o Registering credit providers.
o Monitoring compliance with the NCA.
o Taking enforcement actions against non-compliance.
2. Consumer Protection
o Educating consumers on their rights under the NCA.
o Investigating complaints related to credit agreements.
o Ensuring fair treatment of consumers.
3. Promotion of Responsible Credit Granting
o Monitoring and promoting responsible credit practices.
o Setting and enforcing rules for affordability assessments.
4. Research and Policy Development
o Conducting research on credit-related issues.
o Advising the government on credit policies and legislation.
5. Debt Counseling and Relief
o Overseeing debt counseling services.
o Assisting consumers in debt restructuring.
o Ensuring the implementation of debt review processes.
These key functions can be represented as branches in the mind map, with the central node being
the National Credit Regulator (NCR). Each branch would then detail the specific roles
associated with each function.
It seems there was an issue with generating the mind map. I recommend creating it manually
using a tool like Microsoft Word, Google Docs, or an online mind mapping tool like
MindMeister. Here’s a simple guide:
1. Central Node: Start with the central node labeled "National Credit Regulator (NCR)."
2. Main Branches:
o Regulation and Supervision of Credit Providers:
Registering credit providers.
Monitoring compliance.
Enforcement actions.
o Consumer Protection:
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