S.L. 376.9 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, 2, 3, 5, 6(3), 6(4), 7(1), 7(2)(a) to (d), 10 to 13, 14, 15(4), 15(5), 21, 24 and 26 to 28 shall apply to an overdraft facility and where the credit has to be repaid on demand or within three (3) months; or

(b) only regulations 1 to 5, 25, 27 and 28 shall apply to an overrunning;

(c) only regulations 1 to 4, 6(3), 6(4), 7, 14 the application of regulation 9(a) to (f), (h), (i), and (m) in so far as the information to be included in credit agreements, regulations 10, 11, 13, 14(3), 15(1) limitedly to the requirement of a credit agreement to be drawn up in writing or on a durable medium, regulations 15(1)(b), 15(2), 16, 19, 22 and 25 to 28 shall apply to credit agreements which provide for arrangements to be agreed by the creditor and the consumer in respect of deferred payments or repayment methods, where the consumer is already in default on the initial credit agreement, and where:

(i) such arrangements would be likely to avert the possibility of legal proceedings concerning such default; and

(ii) the consumer would not thereby be subject to terms which are less favourable than those established in the initial credit agreement.