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Coverage in small businesses for bank clauses

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Coverage in small businesses for bank clauses

In order to avoid legal obstacles and to be able to “work” the multi-bill on Consumer Protection, which will allow individuals to be protected from abusive clauses, to go to court and claim damages, a new separate bill is being prepared for to micro-enterprises. In fact, something that the parties demanded during the discussions of the bill in the Trade Committee, which also prepared amendments, which protected small businesses from abusive clauses.

The Financial Commissioner Pavlos Ioannou, in order not to deprive the consumers of the protection network provided by the bill, according to KYPE, prepared a draft of another bill, which focuses only on small businesses.


Conviction for abusive banking clauses SYROPRODAT: In legal entities, too, the protection against abusive clauses

The provisions of the new bill

According to information from “F”, the draft, which will be presented today to the members of the competent parliamentary committee, will cover by law very small companies, with a capacity of up to nine employees and which have a small turnover. Entrepreneurs will also be protected.

In particular, both small businesses and businesses can turn to the Consumer Protection Service to report abusive clauses in banking contracts. A competent source told “F” that the draft prepared for the right of small businesses to appeal against abusive clauses addresses / overcomes the constitutional obstacles identified by the Supreme Court when the Parliament approved a similar bill two and a half years ago.


Source: www.philenews.com

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