EU: Distance Contracts Directive published

On 4 June Directive 97/7 (on the protection of consumers in respect of distance contracts) has been published in the OJ (L 144/19). The Directive is to be transposed into the national laws of the MS within three years. The Directive imposes substantial obligations on all suppliers of goods and services in the EU to ensure that consumers receive certain information prior to and at the time of entering into distance contracts. In addition, terms covering performance, withdrawal, payment and redress are imposed on all suppliers entering into distance contracts with consumers. The Commission’s Action Plan to complete the Single Market, agreed by the 20 Commissioners on 4 June, includes as a priority a proposal to extend similar regulations to financial services. This is expected by the end of 1997.