§ Mr. Pavitt
asked the Secretary of State for Prices and Consumer Protection wha steps are being taken to exempt normal overdrafts given by the clearing banks to their customers for the heavier provision of the Consumer Credit Act.
§ Mr. John Fraser
There is provision in the Act for the Director General of Fair Trading to exempt from certain provisions those agreements allowing the debtor to overdraw on a current account. In addition, in the making of the regulations we are consulting widely and will be willing to consider any points about overdrafts made by the clearing banks.