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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 26 May 2008 - onwards
  Version 5 of 5    

108. Duty to give information to surety under running-account credit agreement.

(1) The creditor under a regulated agreement for running-account credit in relation to which security is provided, within the prescribed period after receiving a request in writing to that effect from the surety and payment of a fee of £1, shall give to the surety (if a different person from the debtor)-

(a) a copy of the executed agreement (if any) and of any other document referred to in it;

(b) a copy of the security instrument (if any); and

(c) a statement signed by or on behalf of the creditor showing, according to the information to which it is practicable for him to refer,-

(i) the state of the account, and

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

(iii) 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.

(2) If the creditor possesses insufficient information to enable him to ascertain the amounts a

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