REPUBLIC OF NAMIBIA
WINDHOEK- 2 February 2000
No. 34 Notice in terms of section I 5 A of the Usury Act, I 968 (Act No. 73 of I 968) ...
MINISTRY OF FINANCE
NOTICE IN TERMS OF SECTION 15A OF THE USURY ACT, 1968
(ACT NO. 73 OF 1968)
In terms of section 15A of the Usury Act, 1968 (Act No. 73 of 1968), the Minister of
Finance hereby exempts the micro loan transaction referred to in the Schedule from the
provisions of the said Act except for sections 13, 14 and 17 of the Act, on the conditions
set out in the Schedule.
MINISTER OF FINANCE
Windhoek, 31 December 1999
In this Schedule, unless the context otherwise indicates, an expression
defined in the Act, has a corresponding meaning and "annual rate for the total charge of credit" means the total charge of credit in respect of a
micro loan transaction expressed as a nominal annual percentage rate;
"bank" means a bank registered in terms of the Banking Institutions Act, 1998 (Act No.
2 of 1998);
"borrower" means a person to whom a micro lender has advanced a loan amount in terms