Department of Justice and Constitutional Development
20 September 2019
The Draft Judicial Matters Amendment Bill will be tabled in parliament soon.
The justice and constitutional development department published the draft bill’s explanatory summary in Government Gazette 42712.
According to the notice, the draft bill aims to amend:
• the Divorce Act, 1979, so as to further regulate the division of assets and maintenance of parties in divorce proceedings in accordance with a judgment of the Constitutional Court; and
• the National Prosecuting Authority Act, 1998, so as to deal with aspects pertaining to the term of office of the National Director of Public Prosecutions and the Deputy National Directors of Public Prosecutions in accordance with a judgment of the Constitutional Court; and
• to provide for matters connected therewith.
Meanwhile, in Gazette 42713, the department has adjusted the prescribed rate of interest.
It is prescribed in terms of the Prescribed Rate of Interest Act.
The prescribed rate is the maximum rate of interest that may be claimed by a creditor with regard to interest-bearing debts.
It applies to all debts unless a different rate is set by law, by trade custom or by agreement between the parties.
The rate is set at 10.00% per annum as from 1 September 2019.