LegalizeS.I. No. 281/2010 - European Communities (Consumer Credit Agreements) Regulations 2010
This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.
8 amending acts · 2026-07-03, S.I. No. 309/2026 - European Union (Distance Contracts for Financial Services) Regulations 2026
| (a) concerning the creditor | |
| If applicable | |
| Representative of the creditor in your Member State of residenceAddress | [Name][Geographical address to be used by the consumer] |
| Telephone number []E-mail address []Fax number []Web address [] | |
| If applicableRegistration | [The trade register in which the creditor is entered and his registration number or an equivalent means of identification in that register] |
| If applicableThe supervisory authority | |
| (b) concerning the credit agreement | |
| If applicableExercise of the right of withdrawal | [Practical instructions for exercising the right of withdrawal indicating, inter alia, the period for exercising the right, the address to which notification of exercise of the right of withdrawal should be sent and the consequences of non-exercise of that right] |
| If applicableThe law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit contract | |
| If applicableClause stipulating the governing law applicable to the credit agreement and/or the competent court | [Relevant clause to be set out here] |
| If applicableLanguage regime | Information and contractual terms will be supplied in [specific language]. With your consent, we intend to communicate in [specific language/languages] during the duration of the credit agreement. |
| (c) concerning redress | |
| Existence of and access to out-of-court complaint and redress mechanism | [Whether or not there is an out-of-court complaint and redress mechanism for the consumer who is party to the distance contract and, if so, the methods of access to it] |
[*] This information is optional for the creditor.
SCHEDULE 3 European Consumer Credit Information Form for overdrafts, consumer credit offered by certain credit organisations and debt conversion
1. Name and contact details of the creditor and any credit intermediary
| Creditor Address Telephone number []E-mail address []Fax number []Web address [] | [Name][Geographical address to be used by the consumer] |
| If applicableCredit intermediary Address Telephone number []E-mail address []Fax number []Web address [] | [Name][Geographical address to be used by the consumer] |
Wherever “if applicable” is indicated, the creditor must fill in the box if the information is relevant to the credit product or delete the respective information or the entire row if the information is not relevant for the type of credit considered.
Indications between square brackets provide explanations for the creditor and must be replaced with the corresponding information.
[*] This information is optional for the creditor.
2. Description of the main features of the credit product
| The type of credit | |
| The total amount of creditThis means the ceiling or the total sums made available under the credit agreement.The duration of the credit agreement | |
| If applicableYou may be requested to repay the amount of credit in full on demand at any time |
3. Costs of the credit
| The borrowing rate or, if applicable, different borrowing rates which apply to the credit agreement | [ %— fixed or,— variable (with the index or reference rate applicable to the initial borrowing rate)], |
| If applicableCostsIf applicableThe conditions under which those costs may be changed | [The costs applicable from the time the credit agreement is concluded] |
| Costs in the case of late payments | You will be charged [ (applicable interest rate and arrangements for its adjustment and, where applicable, default charges)] for missing payments. |
4. Other important legal aspects
| Termination of the credit agreement | [The conditions and procedure for terminating the credit agreement] |
| Consultation of a databaseThe creditor must inform you immediately and without charge of the result of a consultation of a database if a credit application is rejected on the basis of such a consultation. This does not apply if the provision of such information is prohibited by European Community law or is contrary to objectives of public policy or public security. | |
| If applicableThe period of time during which the creditor is bound by the pre-contractual information | This information is valid from until |
If applicable
5. Additional information to be given where the pre-contractual information is provided by a credit union or relates to a consumer credit for debt conversion
| Instalments and, where appropriate, the order in which instalments will be allocated | You will have to pay the following: [Representative example of an instalment table including the amount, number and frequency of payments to be made by the consumer] |
| The total amount you will have to pay | |
| Early repaymentYou have the right to repay the credit early at any time in full or partially. | |
| If applicableThe creditor is entitled to compensation in the case of early repayment | [Determination of the compensation (calculation method) in accordance with the provisions implementing Article 16 of Directive 2008/48/EC] |
If applicable
6. Additional information to be given in the case of distance marketing of financial services
| (a) concerning the creditor | |
| If applicableRepresentative of the creditor in your Member State of residenceAddressTelephone number []E-mail address []Fax number []Web address [] | [Name][Geographical address to be used by the consumer] |
| If applicableRegistration | [The trade register in which the creditor is entered and his registration number or an equivalent means of identification in that register] |
| If applicableThe supervisory authority | |
| (b) concerning the credit agreement | |
| Right of withdrawalYou have the right to withdraw from the credit agreement within a period of 14 calendar days.If applicableExercise of the right of withdrawal | Yes/no[Practical instructions for exercising the right of withdrawal indicating, inter alia, the address to which notification of exercise of the right of withdrawal should be sent and the consequences of non-exercise of that right] |
| If applicableThe law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit contract | |
| If applicableClause stipulating the law applicable to the credit agreement and/or the competent court | [Relevant clause to be set out here] |
| If applicableLanguage regime | Information and contractual terms will be supplied in [specific language]. With your consent, we intend to communicate in [specific language/languages] during the duration of the credit agreement. |
| (c) concerning redress | |
| Existence of and access to out-of-court complaint and redress mechanism | [Whether or not there is an out-of-court complaint and redress mechanism for the consumer who is party to the distance contract and, if so, the methods of access to it] |
[*] This information is optional for the creditor.
GIVEN under my Official Seal,
9 June 2010.
BRIAN LENIHAN,
Minister for Finance.
EXPLANATORY NOTE
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These regulations transpose into domestic law the provisions of the Consumer Credit Directive 2008/48/EC of the European Parliament and of the Council on credit agreements for consumers. That Directive establishes a harmonised legal framework in the European Union for the provision of consumer credit ranging from €200 to €75,000. It does not apply to mortgages. It replaced a 1987 Directive (87/102/EEC), which laid down minimum rules for consumer credit agreements within the EU and which was transposed into domestic law by the Consumer Credit Act 1995 .
The Regulations have the following benefits for consumers:
- •Standardisation of pre-contractual information through the use of the Standard European Consumer Credit Information form (SECCI) and standardisation of the information to be contained in a credit agreement.
- •The Annual Percentage Rate of charge (APR) will be more transparent and will include all known costs and assumptions used in calculation. This will provide an effective tool for comparisons between loans offered by creditors.
- •Consumer Protection will be enhanced through more adequate explanations, creditworthiness checks and credit history checks.
- •In the case of credit intermediaries, all fees and ties with the credit provider must be provided for in the advertising and in the documentation provided to the consumer. The fees for the credit intermediary must also be included in the APR quoted to the consumer.
- •The Directive provides that compensation for early repayment of fixed rate loans may not exceed 1% (or 0.5% if less than a year remains on the fixed rate) of the amount of the credit repaid early. The creation of a threshold of €10,000 under which early repayment fees will not be charged in any one year provides enhanced benefits to consumers to repay early when the opportunity arises.
- •Full 14 day “Right of Withdrawal” applies to all credit agreements subject to the full provisions of the Directive. Option to waive the “Right of Withdrawal” is not permitted.
Footnotes
OJ No. L133, 22.5.2008, p.66.
OJ No. L133, 22.5.2008, p.66.
OJ L 149, 11.6.2005, p. 22.
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