Examples of Usury Act in a sentence
This transmission took place and, on 10 March 1958, a preliminary investigation (Voruntersuchung) was opened by the Wels Court against the Applicant who was suspected of having committed the crime of usury within the meaning of Section 3, sub-section 4, of the Usury Act and of Article 2 of the Regulation on Usury.
Suspected of having committed offences against the Usury Act (Wuchergesetz), Stögmüller was arrested on 3 March 1958 pursuant to a decision of the Linz District Court.
All arrear or outstanding payments due in terms of this agreement and which are not paid on due date shall bear interest at the maximum rate allowed in terms of the Usury Act such interest to be calculated from due date until date of actual payment and shall be considered as a penalty interest to accrue to the levy fund.
If any amount is not paid within the agreed term the debtor shall be liable for interest at the maximum rate permitted by law from the time to time, including, without limiting the generality thereof, the Usury Act, No 73 of 1968.
The lawsuit alleges, among other things, that our CSO activities in Ohio violate various laws in Ohio, including the Short-Term Loan Act, the Consumer Sales Practices Act and the General Usury Act.
The Usury Act, 73 of 1968 and the Credit Agreements Act, 75 of 1980, has been the cornerstone of consumer credit in South Africa for the last thirty odd years.
In conjuction to this, Roestoff and Renke (2003) seem to agree with the findings by the Technical Committee, Credit Law review (2003) on how the Usury Act did not protect consumers from over- indebtedness through reckless credit granting by credit providers.Three instances are given as reckless lending in the National Credit Act.
The lender shall comply with the conditions of the Usury Act Exemption.
Additional consumer protection measures are contained in a myriad of industry specific legislation such as the Estate Agency Affairs Act, the Usury Act, the Credit Agreements Act and the Housing Development Schemes for Retired Persons Act, the Standards Act, as well as in various industry codes of conduct.
Small Enterprise Foundation in South Africa is one such institution providing small loans to the poorest sector of society to develop and grow small enterprise.4 This is the upper level identified by the Micro Finance Regulatory Council for exemption from the Usury Act provisions.