# Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (Text with EEA relevance), Division (l): In the case of contingent liabilities or guarantees, the total amount of credit shall be deemed to be drawn down in full as a single amount at the earlier of:

Extent: E+W+S+N.I.

(a) the latest draw down date permitted under the credit agreement being the potential source of the contingent liability or guarantee; or
(b) in the case of a rolling credit agreement at the end of the initial period prior to the rollover of the agreement.

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Source: https://www.legislation.gov.uk/eudr/2014/17/annex/I/division/II/division/l (the official version)
Page: https://openlegislation.uk/eu-directive-2014-17/annex-I/division-II/division-l
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.