S.L. 376.10 Art. 5Non-applicability.  Cap. 370.   Cap. 371.

Without prejudice to regulation 4, these regulations shall not apply to credit agreements:

(a) entered into before 20th November 2026:

Provided that open-end credit agreements which were entered into before 20th November 2026 shall be regulated by regulations 23, 24, 25(2), 28, and 36, and the creditor shall in any case provide the consumer with that information on paper or another durable medium chosen by the consumer and specified in the agreement to open a current account, on a regular basis;

(b) which are secured either by a mortgage or by another comparable security commonly used in a Member State on immovable property or secured by a right related to immovable property;

(c) the purpose of which is to acquire or retain property rights over land and or, over an existing or projected building, including premises used for trade, business or profession;

(d) involving a total amount of credit of more than one hundred thousand euro (€100,000): Provided that, notwithstanding sub-regulation (2)(d), these regulations shall apply to unsecured credit agreements the purpose of which is the renovation of a residential immovable property involving a total amount of credit above one hundred thousand euro (€100,000);

(e) relating to hiring or leasing where an obligation to purchase the object of the agreement is not stipulated either by the agreement itself or by a separate agreement. Such an obligation shall only be deemed to exist if it is so decided unilaterally by the creditor;

(f) where the credit is granted by an employer to his employees as a secondary activity free of interest or at annual percentage rates of charge which are lower than those prevailing on the market, and which are not offered to the public;

(g) which are concluded with European investment firms as defined in article 2 of the Investment Services Act or with banks or credit institutions or electronic money institutions as defined in article 2 of the Banking Act for the purpose of allowing an investor to carry out a transaction relating to one or more of the instruments listed in the Second Schedule to the Investment Services Act where the European investment firm or bank or credit institution or electronic money institution granting the credit is involved in such transaction;

(h) which are the outcome of a settlement reached in court or before another statutory authority;

(i) which relate to the deferred payment, free of charge, of an existing debt;

(j) upon the conclusion of which the consumer is requested to deposit an item as security in the creditor’s safe-keeping and where the liability of the consumer is strictly limited to such pledged item;

(k) which relate to loans granted to a restricted public under a statutory provision with a general interest purpose and at lower interest rates than those prevailing on the market or free of interest or on other terms which are more favourable to the consumer than those prevailing on the market and at interest rates not higher than those prevailing on the market; and

(l) in the form of deferred debit cards:

Provided that the terms of which, the credit has to be repaid is within forty (40) days and which are free of interest with only limited charges for the provision of the payment service.