- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
4. In section 77A of the 1974 Act (statements to be provided in relation to fixed-sum credit agreements)—
(a)for subsection (1) substitute—
“(1) The creditor under a regulated agreement for fixed-sum credit must give the debtor statements under this section.
(1A) The statements must relate to consecutive periods.
(1B) The first such period must begin with either—
(a)the day on which the agreement is made, or
(b)the day the first movement occurs on the debtor’s account with the creditor relating to the agreement.
(1C) No such period may exceed a year.
(1D) For the purposes of subsection (1C), a period of a year which expires on a non-working day may be regarded as expiring on the next working day.
(1E) Each statement under this section must be given to the debtor before the end of the period of thirty days beginning with the day after the end of the period to which the statement relates.”.
(b)in subsection (5)—
(i)for “(1)(a)” substitute “(1E)”; and
(ii)paragraph (b) and the “or” immediately preceding it shall cease to have effect; and
(c)in subsection (7) omit the words “paragraph (a) or (as the case may be) paragraph (b) of”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: