(1) In section 78 of the 1974 Act (duty to give information to debtor under running-account credit agreement) after subsection (4) insert -

"(4A) Regulations may require a statement under subsection (4) to contain also information in the prescribed terms about the consequences of the debtor -

(a) failing to make payments as required by the agreement; or

(b) only making payments of a prescribed description in prescribed circumstances."

(2) In subsection (7) of that section for "(4) and (5)" substitute "(4) to (5)".

(3) In section 185 of that Act (agreement with more than one debtor or hirer) for subsection (2) substitute -

"(2) Notwithstanding subsection (1)(a), where credit is provided under an agreement to two or more debtors jointly, in performing his duties -

(a) in the case of fixed-sum credit, under section 77A, or