No.l2
2015
(i) the amounts outstanding, as principal and interest, at
the beginning and at the end of the six-month period;
and
(ii) the payments received, as principal and interest, during
the six-month period; and
(iii) the annual rate of interest applicable during the sixmonth period; and
(iv) such other particulars as may be prescribed or as the
Registrar may specify in a direction referred to in
section 81(2)(d).
(3) Where a banking institution issues a credit or debit card to a
person, it shall disclose to him or her, in writing(a)
his or her rights and obligations in respect of(i) the credit limit authorised under the card and the
amount of indebtedness outstanding at any time; and
(ii) the period for which each statement is issued; and
(iii) any charges and interest costs for which the person
becomes responsible by accepting and using the card;
and
(iv) the minimum amount in respect of the balance
outstanding that must be paid at the end of each
statement period; and
(v) the maximum amount of the cardholder's liability for
unauthorised use of the card if it is lost or stolen;
and
(b)
the cost of borrowing in respect of any loan obtained through
the use of the card, the exchange rate applied and the manner
in which it is calculated and, in the event that the required
instalment is not paid on due date, particulars of the charges
and penalties to be paid by the cardholder; and
(c)
the amount of any fee or charge for ·which the cardholder is
responsible for accepting or using the card and the manner
in which the fee or charge is calculated; and
(d)
such other particulars as may be prescribed or as the Registrar
may specify in a direction refened to in section 81(2)(d).
(4) Before changing any of the matters referred to in subsection
( 1), (2) or (3 ), a banking institution shall give the account-holder, bonower
or cardholder, as the case may be, at least thirty days' written notice of
the change.
(5) After changing any of the matters referred to in subsection ( 1),
(2) or (3), a banking institution shall give the account holder, borrower
or card holder w1itten notice of the changes within fourteen days.
(6) No banking institution shall impose any fee or other charge
for the information it is required to provide to a user of its services under
subsection (1), (2), (3) or (4).
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