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  • Section One Scope of Application

    • Article 2: Application of the Regulations

      1. These Regulations apply to all kinds of Consumer Financing.
      2. These Regulations do not apply to lease or real estate Financing or margin lending.

    • Article 3: Meaning of Consumer Financing and Amount of Financing

      1. For the purposes of these Regulations, Consumer Financing is granted under a Financing Contract in case of any of the following:
        1. The repayment of a debt owed by a person (the Borrower) to another (the Creditor) is deferred; or
        2. a person (Borrower) incurs a deferred debt to another (Creditor).
      2. For the purpose of complying with Article 14(1), the Creditor must calculate the Amount of Financing based on the Borrower's Gross Salary or monthly pension entitlement (as the case may be) when the application for Financing is submitted.