(1) If a creditor and a consumer agree to open a current account, and there is a possibility of the consumer being allowed an overrun, the agreement shall contain the information referred to in Regulation 9(1)(e). The creditor shall provide that information on paper or on another durable medium on a regular basis.

(2) If a significant overrunning continues for longer than one month, the creditor shall inform the consumer without delay, on paper or on another durable medium -

(a) of the overrunning,

(b) of the amount involved,

(c) of the borrowing rate, and

(d) of any penalties, charges or interest on arrears applicable.

(3) This Regulation is without prejudice to any other law requiring a creditor to offer another kind of credit product when the duration of an overrunning is significant.

(4) A creditor or credit intermediary that contravenes a provision of this Regulation commits an offence.