BUSINESS
Access to a database where an owner can be linked to a specific asset is crucial, as even second-hand units can be tracked.
PICKING UP
WHAT eNaTIS LEFT OFF
By Susan Unsworth
A regulation gap exposed banks to the problem of double discounting, affording owners the
opportunity to abscond with both the asset and the cash. Enter the Southern Africa Movable
Assets Register.
I
t started with an unfortunate accident
involving a police officer and a quad
bike, the trauma exacerbated by the
realisation that the Road Accident Fund
would not be paying compensation since
the offending vehicle was not licensed
for use on a public road.
16
JULY 2018
Off-road assets, including construction
and mining equipment and recreational
vehicles such as jet skis, found
themselves in licensing no-man’s-land in
2011, when the Department of Transport
decreed that the eNaTIS system was to be
restricted to vehicles that could pass the
roadworthy test required of mainstream
vehicles.
This gap in regulation exposed
the banks to the problem of double
discounting, where owners seek two
different financing deals for the same
asset and then abscond with cash,