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S.L. 330.7 · Distance Selling (Retail Financial (S.L. 330.7)

S.L. 330.7 Art. 14Issue of compliance orders.

In KraftAmtlicher Text

(1) Where the competent authority feels it reasonably appropriate or necessary for the protection of consumers, it may, of its own initiative or on a written application to it by a qualified entity, issue a compliance order against a supplier, for one or more of the following purposes:

(a) ordering the deletion or alteration of particular clauses incorporated in a distance consumer contract which the competent authority considers as being unfair to consumers or as creating a significant imbalance between the rights and obligations of the contracting parties in a manner detrimental to consumers;

(b) ordering the incorporation of terms in a distance contract which the competent authority considers to be necessary for the better information or protection of consumers, or for preventing a significant imbalance between the rights and obligations of the parties in a manner detrimental to consumers;

(c) requiring any person to take any measures specified in the compliance order, within the time specified in the compliance order to ensure that these regulations are complied with;

(d) requiring any person to cease or desist from committing a breach of these regulations.

(2) The competent authority shall when issuing a compliance order under this regulation -

(a) serve a copy of the compliance order on each person against whom the order is made;

(b) include with the compliance order, information about the right to institute an action before the Financial Services Tribunal in accordance with regulation 17; and

(c) briefly state the reasons for issuing the compliance order, which reasons shall be notified to each person against whom the compliance order is issued and, if any, to the qualifying body on whose application the compliance order is issued.

(3) No precautionary warrant or other order under any other law shall be issued by any court or tribunal restraining or restricting the competent authority from issuing a compliance order under these regulations.