S.L. 378.12 Art. 19Advertisements.

(1) Without prejudice to the provisions relating to unfair commercial practices under the Act, where a credit advertisement includes an interest rate or any figure relating to the cost of the credit to the consumer, the advertisement shall also 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, variable or both;

(b) particulars of any charges included in the total cost of credit to the consumer;

(c) the total amount of credit;

(d) the annual percentage rate of charge except in the case of credit agreements referred to in regulation 8;

(e) the duration of the agreement;

(f) 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;

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

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

(3) (a) A credit advertisement 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.