Section 78A(2)

But subsection (1) does not apply where— the agreement provides that the creditor is to inform the debtor in writing periodically of the matters mentioned in subsection (3) in relation to any variation, at such times as may be provided for in the agreement, the agreement provides that the rate of interest is to vary according to a reference rate, the reference rate is publicly available, information about the reference rate is available on the premises of the creditor, and the variation of the rate of interest results from a change to the reference rate.

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Source: legislation.gov.uk · retrieved 2026-07-30