20. Failure to repay deposit or pay interest to be an offence

Where any finance company fails to repay a deposit or fails to pay interest thereon to a depositor, on demand or if a date of maturity is agreed upon at the time of deposit, on or after such date of maturity, every director, manager or secretary of such company shall be guilty of an offence under this Act:

Any depositor whose deposit and interest has not been paid on demand or at maturity in terms of subsection (1), may institute proceedings in the Magistrate’s Court in terms of section 136 of the Code of Criminal Procedure Act,