35.—(1) A consumer shall be informed by the creditor at the time, or before, an agreement is made in respect of the granting of credit in the form of an advance on a current account F76[including an overdraft] granted by a credit institution, other than on credit card accounts, of—

(a) the credit limit, if any, F76[at the commencement of the agreement and any conditions in relation to any variation of the limit,]

(b) the annual rate of interest and the charges applicable from the time the agreement is concluded and the conditions under which these may be amended, and

(c) the procedure for determining the agreement.

(2) The information required under subsection (1) shall be confirmed by the creditor in writing to the consumer within 10 days of the making of the agreement, and during the period of the agreement, the consumer shall be informed by the creditor of any change in the annual rate of interest or in the relevant charges at or before the time such change occurs and such information may be given in a statement of account or in an advertisement published in a national newspaper published and circulating in the State.

(3) (a) Where any sum is advanced to a consumer by way of an overdraft tacitly accepted by both parties which extends beyond a period of three consecutive months, he shall be informed of the annual rate of interest and other charges applicable and of any subsequent amendment of those charges.

(b) The information required to be given in paragraph (a) may be given in a statement of account or in an advertisement published in a national newspaper published and circulating in the State.