1. Assumptions about running-account credit
This section has no associated Explanatory Memorandum
(a)In the case of a credit advertisement relating to running-account credit, the assumption in paragraph (b) below shall have effect for the purpose of calculating the total charge for credit and any APR in place of the assumption in regulation 6(o) of the Total Charge for Credit Regulations that might otherwise apply.
(b)In a case where the credit limit applicable to the credit is not yet known on the date the credit advertisement is published but it is known that it will be less than £1,200, the credit limit shall be assumed to be an amount equal to that maximum limit.