The Consumer Credit (Amendment) Regulations 2010 No. 1969

Amendments to the Consumer Credit (EU Directive) Regulations 2010 U.K.

9.  In regulation 21 (current account overdrafts), in the wording inserted as section 74A (information to be provided on a current account agreement)—

(a) for subsection (1) substitute—

“74A.— (1) This section applies to a current account agreement where—

(a) there is the possibility that the account-holder may be allowed to overdraw on the current account without a pre-arranged overdraft or exceed a pre-arranged overdraft limit, and

(b) if the account-holder did so, this would be a regulated consumer credit   agreement.”;

(b) in subsection (3) after “must be informed” insert “in writing”.

Commencement Information

I1 Reg. 9 in force at 26.8.2010, see reg. 1