Status: You are viewing the version of the handbook as on 2016-02-03.

authorised non-business overdraft agreement

    107a borrower-lender agreement which provides authorisation in advance for the borrower to overdraw on a current account, where:

      1. (a) the credit must be repaid on demand or within three months;
      1. (b) the agreement is not entered into by the borrower wholly or predominantly for the purposes of the borrower's business.