S.L. 376.10 Art. 14Tyingandbundling practices.

(1) Bundling practices shall be allowed whilst tying practices shall be prohibited:

Provided that without prejudice to the application of competition law, creditors may request the consumer to open or maintain a payment or savings account, where the only purpose of such an account is one (1) of the following:

(a) to accumulate capital to repay the credit;

(b) to service the credit;

(c) to pool resources to obtain the credit;

(d) to provide additional security for the creditor in the event of default.

(2) Creditors may require the consumer to hold a relevant insurance policy related to the credit agreement, taking into account proportionality considerations, and shall accept the insurance policy from a supplier different to his preferred supplier where such insurance policy has a level of guarantee equivalent to the one the creditor has proposed, without modifying the conditions of the credit offered to the consumer.

(3) In order for consumers to have additional time to compare insurance offers related to credit agreements before purchasing an insurance policy as referred to in sub-regulation (2), consumers have at least three (3) days to compare insurance offers related to credit agreements without such offers being changed, and consumers shall be informed thereof:

Provided that consumers may conclude an insurance policy prior to the expiry of that three (3) day period if they explicitly so request.