Sch 5Statement of credit charge in relation to loan contract

Schedule 5 — Statement of credit charge in relation to loan contract [s. 36] 1. A statement in a loan contract of the credit charge — (a) shall, where at the relevant date it is possible to express the whole or any part of the credit charge as an amount of money, state separately — (i) the amount of the minimum credit charge (if any); and (ii) the amount of the pre‑determined credit charge (if any); and (iii) the amount of the estimated credit charge (if any) that can be so expressed at the relevant date; and (b) shall, where at the relevant date it is not possible to express the whole of the credit charge as an amount of money — (i) state the method by which the amount of the estimated credit charge that cannot be so expressed is to be ascertained; and (ii) include a statement that it is not possible at the relevant date to express the whole of the credit charge as an amount of money; and (c) shall include a statement that no part of the credit charge (other than the minimum credit charge (if any)) becomes due and payable unless it is an accrued credit charge. 2. In clause 1, relevant date means the date on which the loan contract is entered into or, if the loan contract is entered into by the acceptance by the credit provider of an offer made by the debtor, the date on which the offer is made.