21.—(1) An advertisement in which a person offers to provide or arrange the provision of credit shall, if mentioning a rate of interest F67[or making any claim in relation to the cost of credit], contain a clear and prominent statement of the APR, using a representative example if no other means is practicable, F67[provided it is indicated that this is only a representative example,] and no other rate of interest shall be included in the advertisement.

(2) The statement of the APR included in any advertisement to which subsection (1) applies shall be afforded in the advertisement no less prominence than a statement relating to—

(a) any period over which payment is to be made,

(b) the amount of any advance payment or the fact that no advance payment is required, and

(c) the amount, number or frequency of any other payments or charges (other than the cash price of the goods or services) or of any repayments.

(3) An advertisement (other than one relating to a housing loan) shall, where the credit offered is subject to conditions involving the payment of any charges other than the repayment of capital and interest on the sum borrowed, specify those conditions.

(4) An advertisement shall, if any security is required or is required in specific circumstances in relation to the credit offered, state that such security is required.

(5) Notwithstanding section 7 of the Consumer Information Act, 1978, it shall not be an offence for a person to provide credit at a lower rate than the rate advertised.

(6) Where an advertisement refers to the availability of credit and the credit is subject to any restrictions, those restrictions shall be clearly indicated.