S.L. 376.9 Art. 7Advertisements. Cap. 378.

(1) Without prejudice to the provisions relating to unfair commercial practices under the Consumer Affairs Act, any advertising concerning credit agreements which indicates an interest rate or any figure relating to the cost of the credit to the consumer, the advertisement shall include standard information by means of a representative example in accordance with sub-regulation (2).

(2) The representative example referred to in sub-regulation

(1) shall specify and comprise in a clear, concise and prominent way, the following items of information:

(a) the borrowing rate, whether fixed, or variable or both, together with particulars of any charges included in the total cost of credit to the consumer;

(b) the total amount of credit;

(c) the annual percentage rate of charge except in the case of credit agreements referred to in regulation 4(2)(a);

(d) the duration of the agreement;

(e) in the case of credit in the form of a deferred payment for specific goods or services, the cash price and the amount of any advance payment;

(f) if applicable, the total amount payable by the consumer; and

(g) if applicable, the amount of each repayment of credit.

(3) (a) An advertisement concerning credit agreements shall include a clear and concise statement in respect of any obligation to enter into a contract in respect of an ancillary service relating to the credit agreement, in particular an insurance service, where:

(i) the conclusion of that service is compulsory in order to obtain the credit or to obtain it on the terms and conditions advertised; and

(ii) the cost of that service cannot be determined in advance.

(b) The obligation referred to in paragraph (a) shall be advertised in a prominent way and accompanied by the annual percentage rate of charge.