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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 16 Obligations of consumer when distance marketing contract is cancelled

(1) On cancelling a distance contract for the supply of a financial service in accordance with this Part, the consumer shall -

(a) refund any money paid by or on behalf of the supplier under or in relation to the contract to the person who paid the money, and

(b) restore to the person from whom it was received, or that person's nominee, any other property of which the consumer has acquired possession under the contract, including, in the case of the cancellation of a motor vehicle insurance policy, the relevant certificate of insurance and insurance disc.

(2) The consumer shall make the refund and restoration as soon as practicable (and in any case not later than 30 days) after the day on which the notice of cancellation was given to the supplier.

(3) If the consumer fails to refund money, or restore property, within the period of 30 days mentioned in paragraph (2), the supplier has the same rights with respect to recovery of that money or property as the supplier would have had if the

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