82 Variation of agreements
Consumer Credit Act 1974 (1974 c 39) | Legislation

82  Variation of agreements

(1)     Where, under a power contained in a regulated agreement, the creditor or owner varies the agreement, the variation shall not take effect before notice of it is given to the debtor or hirer in the prescribed manner.

[(1A)     Subsection (1) does not apply to a variation in the rate of interest charged under an agreement not secured on land (see section 78A).

(1B)     Subsection (1) does not apply to a variation in the rate of interest charged under an agreement secured on land if—

(a)     the agreement falls within subsection (1D), and

(b)     the variation is a reduction in the rate.

(1C)     Subsection (1) does not apply to a variation in any other charge under an agreement if—

(a)     the agreement falls within subsection (1D), and

(b)     the variation is a reduction in the charge.

(1D)     The agreements referred to in subsections (1B) and (1C) are—

(a)     an authorised business overdraft agreement,

(b)     an authorised non-business overdraft agreement, or

(c)     an agreement

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