Amendments To The Consumer Protection Act

Original Language Title: Grozījumi Patērētāju tiesību aizsardzības likumā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/223545

The Saeima has adopted and the President promulgated the following laws: the amendments to the consumer protection law in consumer protection law (the Republic of Latvia Saeima and the Cabinet of Ministers rapporteur, 1999, no. 9; 2002, 1. No; 2003; 2004, nr. 11, no. 11; 2005, nr. 24; 2007, nr. 9, 12, 15; 2008. no; 2009, no. 13; Latvian journal, 2009, no. 194; 2010, no. 183) the following amendments: 1. in article 8: Express 1.2 part as follows: "(12) on the special permission (license) issued a consumer lending services and the renewal of the Corporation pay the State fee.";
Supplement 1.3 part after the word "issue" with the word "renewal";
Replace in the second sentence of the third paragraph, the words "fair payment for the total cost of the credit to" with the words "fair are reduced total credit costs".
2. transitional provisions: to express 17 as follows: "17. Article 8 of this law and part of the 1.2 1.3 shall enter into force on 1 March 2011, but 1.1 — 2011 November 1.";
Express 18 as follows: "Cabinet of Ministers issued 18:1) up to 2010 31 December — article 8 of this law, the provisions referred to in the fourth subparagraph, which provides consumer credit to be given to the conclusion of the contract information and a procedure for the provision of consumer credit contract requirements and be sliding information, annual percentage rate calculation method of informing the consumer lending during the term of the contract, the early repayment of the credit and the total cost of the credit to reduce the fair individual lending type of contract requirements and applicable lending obligations of intermediaries, as well as the legal framework for consumer lending against pledge of movables;
2) until 28 February 2011, article 8 of this law, the provisions referred to in paragraph 1.3, which provides consumer lending services special permit (license) for the issue, renewal, cancellation, suspension, requirements that a corporation must meet to be able to get the special permission (license), as well as government fees and the payment arrangements. "
The law shall enter into force on January 1, 2011.
The Parliament adopted the law on 20 December 2010.
President Valdis Zatlers in Riga of 2010 December 30.