(1) Subject to paragraph (5) below, any statement to be given by a creditor under a regulated agreement to a debtor by virtue of section 78(4) of the Act (which relates to the duty of the creditor to give the debtor regular statements of account where running-account credit is provided) shall be in writing with the contents set out in the Schedule to these Regulations.

(2) The lettering in any part of any such statement shall, apart from any signature, be easily legible and of a colour which is readily distinguishable from the background medium upon which the information is displayed.

(3) Subject to paragraph (4) and Regulation 4 below, every such statement shall relate to a period starting from the end of the period to which the last previous statement complying with section 78(4) of the Act relates.

(4) Subject to Regulation 4 below, the first such statement shall relate to a period starting on or before the date of the first movement in the account.