28. In section 82 (variation of agreements), after subsection (1) insert—
“(1A) Subsection (1) does not apply to a variation in the rate of interest charged under an agreement not secured on land (see section 78A).
(1B) Subsection (1) does not apply to a variation in the rate of interest charged under an agreement secured on land if—
(a)the agreement falls within subsection (1D), and
(b)the variation is a reduction in the rate.
(1C) Subsection (1) does not apply to a variation in any other charge under an agreement if—
(a)the agreement falls within subsection (1D), and
(b)the variation is a reduction in the charge.
(1D) The agreements referred to in subsections (1B) and (1C) are—
(a)an authorised business overdraft agreement,
(b)an authorised non-business overdraft agreement, or
(c)an agreement which would be an authorised non-business overdraft agreement but for the fact that the credit is not repayable on demand or within three months.
(1E) Subsection (1) does not apply to a debtor-creditor agreement arising where the holder of a current account overdraws on the account without a pre-arranged overdraft or exceeds a pre-arranged overdraft limit.”.