{"id":53103,"date":"2026-05-11T16:09:53","date_gmt":"2026-05-11T14:09:53","guid":{"rendered":"https:\/\/www.oeb.org.cy\/consumer-protection-amendment-law-of-2026-law-30i-2026\/"},"modified":"2026-05-11T16:09:53","modified_gmt":"2026-05-11T14:09:53","slug":"consumer-protection-amendment-law-of-2026-law-30i-2026","status":"publish","type":"post","link":"https:\/\/www.oeb.org.cy\/en\/consumer-protection-amendment-law-of-2026-law-30i-2026\/","title":{"rendered":"Consumer Protection (Amendment) Law of 2026, Law 30(I)\/2026"},"content":{"rendered":"<p>The Employers and Industrialists Federation (OEB) informs you about the provisions of the &#8220;Consumer Protection (Amendment) Law of 2026 (L.30(I)\/2026)&#8221;, which aims to ensure the smooth functioning of the internal market for <strong><u>distance contracts<\/u><\/strong>, with particular emphasis on financial services.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>The main provisions of the new legislation are:  <\/strong><\/p>\n<ol>\n<li><strong>Right of withdrawal in online contracts<\/strong><br \/>\nAn obligation is introduced for traders to provide the option to withdraw (e.g. &#8220;click here to withdraw&#8221; or equivalent wording).<\/li>\n<li><strong>Distance Financial Services<\/strong><br \/>\n ContractsModernised rules are adopted and organised into five main sections:<\/li>\n<\/ol>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><strong>Pre-contractual information:<\/strong> An obligation to provide clear and comprehensible information on a durable medium prior to the conclusion of the contract.<\/li>\n<li><strong>Right of withdrawal:<\/strong> Right of the consumer to withdraw within 14 days, without justification and without imposition of penalties.<\/li>\n<li><strong>Payment in case of withdrawal:<\/strong> The consumer pays only the amount corresponding to the services already provided, without this constituting a penalty.<\/li>\n<li><strong>Adequate explanations:<\/strong> Obligation of the trader to provide sufficient explanations free of charge, so that the consumer can assess whether the contract meets his needs and financial situation.<\/li>\n<li><strong>Additional protection in online interfaces:<\/strong> Practices that mislead or manipulate consumers or affect their ability to make free and informed decisions are prohibited.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Key definitions<\/strong><\/p>\n<ul>\n<li><strong>Financial service:<\/strong> Any service of a banking, credit, insurance or investment nature, as well as services related to pensions, investments or payments.<\/li>\n<li><strong>Distance contract:<\/strong> A contract concluded without the simultaneous physical presence of the parties, through an organized system for the provision of services at a distance.<\/li>\n<\/ul>\n<p><strong> <\/strong><\/p>\n<p><strong>Entry into force of new legislation<\/strong><\/p>\n<p>The provisions of the Law come into force from <strong>June 19, 2026<\/strong>.<\/p>\n<p><a href=\"https:\/\/consumer.gov.cy\/gr\/%CE%B5%CE%BD%CE%B7%CE%BC%CE%AD%CF%81%CF%89%CF%83%CE%B7\/%CE%B1%CE%BD%CE%B1%CE%BA%CE%BF%CE%B9%CE%BD%CF%8E%CF%83%CE%B5%CE%B9%CF%82\/%CE%BD%CE%AD%CE%B1-%CE%B4%CE%B9%CE%BA%CE%B1%CE%B9%CF%8E%CE%BC%CE%B1%CF%84%CE%B1-%CE%B3%CE%B9%CE%B1-%CE%BA%CE%B1%CF%84%CE%B1%CE%BD%CE%B1%CE%BB%CF%89%CF%84%CE%AD%CF%82-%CF%83%CF%84%CE%B9%CF%82-%CE%B4%CE%B9%CE%B1%CE%B4%CE%B9%CE%BA%CF%84%CF%85%CE%B1%CE%BA%CE%AD%CF%82-%CF%83%CF%85%CE%BD%CE%B1%CE%BB%CE%BB%CE%B1%CE%B3%CE%AD%CF%82\">The relevant announcement of the Consumer Protection Service<\/a> for more complete information.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Employers and Industrialists Federation (OEB) informs you about the provisions of the &#8220;Consumer Protection (Amendment) Law of 2026 (L.30(I)\/2026)&#8221;, which aims to ensure the smooth functioning of the internal market for distance contracts, with particular emphasis on financial services. &nbsp; The main provisions of the new legislation are: Right of withdrawal in online contracts [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-53103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - 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