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Pretoria Registrar's Circular 22/2015

27 August 2015

Pretoria Registrar’s Circular No 22 of 2015

Challenges relating to payment of accounts

1. Purpose
The purpose of this circular is to address the issues regarding updating of database and also payment of accounts by debtors.

2. Background
The office is experiencing challenges relating to payment of accounts by debtors after 30 days which is contrary to the Chief Registrar’s Circular 5/2005, Regulation 4A and 45/(8) of the Deeds Registries Act 47 of 1937. To address this problem, the office has introduced the new procedures that must be complied with.

3. New procedure

  1. Accounts which are on 60 days and over must be settled in full prior to any business being conducted with the office.
  2. No credit facility will be extended to those account holders whose accounts are in arrears.
  3. A credit facility will be suspended on all accounts paid after 30 days. A cash payment method will be employed whereby a credit facility has been permanently terminated by the office.
  4. In terms of clause 4(b) of the terms and conditions of the “application and agreement form for a new lodgement number” the account holder will be obliged to inform the office should any of the information contained in the application changes. The account holder further undertakes to inform the office in writing within 7 days of any such change in respect of Directors, Members, Shareholders, Owners, Partners, and domicillium or contact details; failure which constitutes a material breach of this agreement.
  5. All account holders are expected to update their account details every beginning of the year with finance section.

NB: IN ORDER TO AVOID SUSPENSION OF CREDIT FACILITY, ACCOUNT HOLDERS ARE ENCOURAGED TO SETTLE ALL OUTSTANDING BALANCES ON OR BEFORE THE LAST DAY OF THE MONTH. ACCOUNTS WILL BE SUSPENDED ON THE 1ST OF EVERY MONTH.

The circular will be effective from the 1st August 2015

Pretoria Registrar's Circular No 22 of 2015

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