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