Consumer Credit Act 1974 S78(4) - Prescribed form of statements - Question

DarkD

Section 78 (1) describes what should be in a running-account credit statement when requested by a debtor:

78 Duty to give information to debtor under running-account credit agreement.

(1)The creditor under a regulated agreement for running-account credit, within the prescribed period after receiving a request in writing to that effect from the debtor and payment of a fee of £1 shall give the debtor a copy of the executed agreement (if any) and of any other document referred to in it, together with a statement signed by or on behalf of the creditor showing, according to the information to which it is practicable for him to refer,—

(a)the state of the account, and

(b)the amount, if any currently payable under the agreement by the debtor to the creditor, and

(c)the amounts and due dates of any payments which, if the debtor does not draw further on the account, will later become payable under the agreement by the debtor to the creditor.

Section 78 (4) says that a creditor shall give the debtor statements in the prescribed form at least once every 12 months:

78 (4)Where running-account credit is provided under a regulated agreement, the creditor shall give the debtor statements in the prescribed form, and with the prescribed contents—

(a)showing according to the information to which it is practicable for him to refer, the state of the account at regular intervals of not more than twelve months, and

(b)where the agreement provides, in relation to specified periods, for the making of payments by the debtor, or the charging against him of interest or any other sum, showing according to the information to which it is practicable for him to refer the state of the account at the end of each of those periods during which there is any movement in the account.

My question is - what is the prescribed form for the statements under 78 (4) - it would seem that the form given in 78 (1) only applies to statements requested by the creditor.

Can anyone please point to where the form of statements under 78 (4) is prescribed please?

fermi

Original regulations are here ---> http://www.legislation.gov.uk/uksi/1983/1570/made

May have been amended by subsequent SIs or legislation since then, which can be a pain to search out, so don't depend on that being completely current.

DarkD

Thanks! This is probably all I need.