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Contents of credit agreements for cash loans.
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31.—(1) A credit agreement for a cash loan, other than an advance on a current account, or a credit card account shall contain a statement of the following—
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(a) the amount of the credit lent under the agreement,
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(b) the date the credit is to be advanced, (if known),
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(c) the amount of each repayment instalment,
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(d) the rate of interest charged and the APR,
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(e) the conditions under which the APR may be changed,
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(f) any charges not included in the calculation of the APR but which have to be paid by the borrower in certain given circumstances,
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(g) the number of repayment instalments,
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(h) the date, or the method of determining the date, upon which each repayment instalment is payable,
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(i) the total amount payable in respect of the loan,
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(j) the date of expiry of the loan,
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(k) the means and the cost of any termination by the borrower of the agreement before the final repayment instalment.
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(2) A credit agreement operated by means of a credit card or a running account shall contain a statement of—
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(a) the amount of the credit limit, if any,
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(b) the rate of interest charged and the APR,
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(c) the terms of use and repayment, and
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(d) the means and the cost of termination of the agreement.
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