Regulation 1(2).

1. Assumptions about running-account credit

(a) In the case of an agreement for running-account credit, the assumption in paragraph (b) shall have effect for the purpose of calculating the total charge for credit and any APR in place of any assumptions in the total charge for credit rules that might otherwise apply -

(b) in a case where the credit limit applicable to the credit is not known at the time the precontract credit information is disclosed but it is known that it will be subject to a maximum limit of less than £1,200, the credit limit shall be assumed to be an amount equal to that maximum limit.

2. Permissible tolerances in disclosure of an APR

For the purposes of these Regulations, it shall be sufficient compliance with the requirement to show an APR if there is included in the pre-contract credit information -

(a) a rate which exceeds the APR by not more than one,

(b) a rate which falls short of the APR by not more than 0.1, or

(c) in a case to which paragraph 3 or 4 of this Schedule applies, a rate determined in accordance with those paragraphs or whichever of them applies to that case.