Amendments to the Consumer Credit (EU Directive) Regulations 2010U.K.
This section has no associated Explanatory Memorandum
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
I1Reg. 9 in force at 26.8.2010, see reg. 1