3.—(1) The period of one month is hereby prescribed for the purposes of section 78(5) of the Act (the period after the end of the period to which the statement relates within which the creditor must give statements to the debtor), where the statement includes a demand for payment of any amount payable under the agreement by the debtor to the creditor.
(2) Where the statement does not include any such demand and indicates that there is no debit or credit balance standing on the account under the agreement at the end of the period to which the statement relates, the period prescribed for the purposes of section 78(5) of the Act shall be—
(a)twelve months from the date of the end of the period to which the statement relates; or
(b)where there has been no debit or credit balance standing on the account at any time during the period to which the statement relates, twelve months after the date on which there is first a debit or a credit balance on the account following the end of the period to which the statement relates.
(3) In any other case the period of six months is hereby prescribed for the purposes of section 78(5) of the Act.