After section 77 of the 1974 Act insert -
"77A Statements to be provided in relation to fixed-sum credit agreements
(1) The creditor under a regulated agreement for fixed-sum credit -
(a) shall, within the period of one year beginning with the day after the day on which the agreement is made, give the debtor a statement under this section; and
(b) after the giving of that statement, shall give the debtor further statements under this section at intervals of not more than one year.
(2) Regulations may make provision about the form and content of statements under this section.
(3) The debtor shall have no liability to pay any sum in connection with the preparation or the giving to him of a statement under this section.
(4) The creditor is not required to give the debtor any statement under this section once the following conditions are satisfied -
(a) that there is no sum payable under the agreement by the debtor; and
(b) that there is no sum which will or may become so payable.
(5) Subs
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