1. Irish Financial Services Law
  2. Legislation (IE)
  3. Statutory Instruments
  4. 2004
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  1. European Communities (Distance Marketing of Consumer Financial Services) Regulations, 2004 [S.I. No. 853 of 2004]
  2. Part 3 Entry Into and Cancellation of Distance Contracts for the Supply of Financial Services (regs. 10-18)
  3. Regulation 15 Supplier entitled to impose charge for certain services despite cancellation of distance marketing contract
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 15 February 2005 - onwards
  Version 2 of 2    

Regulation 15 Supplier entitled to impose charge for certain services despite cancellation of distance marketing contract

(1) Despite the cancellation of a distance contract for the supply of a financial service, the supplier is entitled to impose a charge for any service actually supplied in accordance with the contract. However, such a charge must not -

(a) exceed an amount that is proportionate to the value of the service that was supplied to the consumer before the notice of cancellation took effect, or

(b) be an amount that could constitute a penalty.

(2) The supplier may impose such a charge only if the consumer had already been informed of the amount of the charge in accordance with Part 2.

(3) The supplier may not impose such a charge if the supplier had, without being asked by the consumer to do so, begun to perform the contract before the end of the relevant cancellation period.

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