S.L. 378.10 Art. 8Content of pre- contractual information.

(1) Creditors and, where applicable, tied credit intermediaries shall make available clear and comprehensible general information about credit agreements at all times on paper or on another durable medium or in electronic form, and as much as possible, in a plain and intelligible language that can be easily understood by the consumer.

(2) The general information referred to in sub-regulation (1) shall include at least the following:

(a) the identity and the geographical address of the creditor;

(b) where applicable, the identity and geographical address of the credit intermediary involved;

(c) the purposes for which the credit may be used;

(d) the forms of security, including, where applicable, the possibility for it to be located in another different Member State;

(e) a description of the types of credit agreements available, including a short description of the differences between fixed and variable rate products and the related implications for the consumer;

(f) a list of related cost elements, such as administrative costs, insurance costs, legal costs, and where applicable, the costs of intermediaries;

(g) an indication of the cost of a typical credit agreement for the consumer;

(h) the possible duration of the credit agreement;

(i) an indication of the currency or currencies in which the credit falling within the scope of these regulations in accordance with regulation 3 is available, including an explanation of the implications for the consumer where the credit is denominated in a foreign currency;

(j) the types of available borrowing rates, the conditions governing the application of such rates and, where available, any index or reference rate applicable to the initial borrowing rate, as well as the periods, conditions, and procedures for changing the borrowing rate: Provided that if different rates apply in different circumstances, the above information shall be supplied in respect of all the applicable rates;

(k) an indicative example of the total amount of credit, the total cost of credit to the consumer, the total amount payable by the consumer and the APRC;

(l) an indication of possible further costs, not included in the total cost of the credit to the consumer, to be paid in connection with a credit agreement;

(m) the range of different options available for reimbursing the credit to the creditor, including the number, frequency and amount of the regular repayment instalments;

(n) where applicable, a clear and concise statement that compliance with the terms and conditions of the credit agreement does not guarantee repayment of the total amount of credit under the credit agreement;

(o) a description of the conditions directly relating to early repayment;

(p) whether a valuation of the property is necessary and, where applicable, who is responsible for ensuring that the valuation is carried out, and whether any related costs arise for the consumer;

(q) details on how to obtain information on tax relief on the credit agreement interest or other public subsidies;

(r) an indication of ancillary services the consumer is obliged to acquire in order to obtain the credit or to obtain it on the terms and conditions marketed and, where applicable, a clarification that the ancillary services may be purchased from a provider that is not the creditor; and

(s) a general warning concerning possible consequences of non-compliance with the commitments linked to the credit agreement.

(3) The Director General may oblige creditors to include other types of warnings which are relevant in Malta.

(4) The MFSA shall notify to the European Commission, without delay, any requirements imposed on creditors in addition to those prescribed in Article 13(1) of the MCD: Provided that for the purposes of this sub-regulation, the Director General shall inform the MFSA, without delay, of any such requirements as may from time to time be imposed on creditors by the Director General.