S.L. 376.9 Art. 19Right to terminate an open-end credit agreement.

(1) A consumer shall be entitled to terminate an open-

end credit agreement at any time and free of charge.

(2) A credit agreement may however provide for a period of notice not exceeding one (1) month before termination by the consumer.

(3) If provided for in the credit agreement, the creditor may terminate an open-end consumer credit agreement by giving the consumer not less than two (2) months’ notice in writing or on a durable medium.

(4) If provided for in the credit agreement, a creditor may, for objectively justified reasons terminate the right of the consumer to drawdown credit under an open-end consumer credit agreement:

Provided that, for the purpose of this sub-regulation "objectively justified reasons" include, suspicion by the creditor that the consumer is involved in an unauthorised or fraudulent use of the credit granted, or that there is a significant risk that the consumer shall be unable to fulfil his obligation to pay the credit.

(5) In the event of a termination in accordance with sub-regulation (4), the creditor shall inform the consumer of the termination and the reasons for it on paper or on another durable medium, where possible before the termination and at the latest immediately thereafter, unless the provision of information would be contrary to public policy or public security or is deemed to be unlawful.