S.L. 376.10 Art. 4Applicability.

(1) These regulations shall apply to credit agreements covering credit for consumers insofar as the said credit agreements are granted or promised to be granted by creditors as defined in regulation 2.

(2) Specific provisions shall apply limitedly to the following credit agreements, as follows:

(a) only regulations 1 to 5, 17 to 19, 25, 31, and 34 to 38 shall apply to an overrunning;

(b) only regulations 1 to 5, 7, 11, 19, 20, 21(1)(a)(a) to (h), (l) and (r), 21(3), 23, 25, regulation 28 to 35, 37 and 38 shall apply to credit agreements between the creditor and the consumer in respect of deferred payment or repayment methods, where the consumer is already in default or is likely to default on the initial credit agreement and where the following conditions are fulfilled:

(i) the arrangement is likely to avert the possibility of legal proceedings concerning the default of the consumer; and

(ii) the consumer would not, by entering into the arrangement, be subject to terms less favourable than those stipulated in the initial credit agreement;

(c) only regulations 7(4)(d), (e) and (f), 10(2), 11(4), and 21(3) shall apply to one or more of the following credit agreements:

(i) credit agreements involving a total amount of credit of less than two hundred euro (€200);

(ii) credit agreements where credit is granted free of interest and without any other charges; or

(iii) credit agreements under the terms of which credit has to be repaid within three (3) months and only insignificant charges are payable.