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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 October 2008 - onwards
Version 2 of 2

Regulation 22

Where the agreement to aggregate concerns agreements to which regulation 2(8) of the Consumer Credit (Agreements) Regulations 1983 applies and the notice is required to be given under section 86B(2) of the 1974 Act -

(a) the references to -

(i) the opening balance in paragraph 3(b) of Schedule 3;

(ia) the amount of the shortfall in paragraph 6 of that Schedule; and

(ii) the opening balance in paragraph 7 of that Schedule,

may be construed as references to, respectively, the aggregated opening balance, the aggregated amount of the shortfall and the aggregated opening balance of those sums to which paragraph 7 refers, under the agreements to which the agreement to aggregate relates;

(b) the reference to the balance under the agreement at the end of the period to which the notice relates may be construed as a reference to the aggregated balance under the agreements to which the agreement to aggregate relates at the end of that period; and