Dáil Éireann Debate, Tuesday - 26 May 2015
345. Deputy Terence Flanagan asked the Minister for Jobs, Enterprise and Innovation if legislation will be introduced in relation to gift cards (details supplied); and if he will make a statement on the matter. [20408/15]
View answerYesterday I launched for public consultation my Department’s Scheme of a proposed Consumer Rights Bill. Among other provisions, the Scheme provides that contracts for the supply of a gift card or voucher must not include a term that makes the card or voucher subject to an expiry date. While this and other provisions of the Scheme are only proposals at this stage, I am conscious of the consumer detriment that can result from the application of expiry dates to gift cards. I will, however, consider carefully all responses to the consultation, including proposals for additional protections for consumers in respect of gift cards and vouchers, before finalising legislative proposals for submission to Government.
The current terms and conditions of the particular gift card product referred to in the Deputy’s question suggest that this card no longer includes an expiry date but remains valid as long as there is a balance on the card. A monthly inactive balance charge applies, however, from twelve months after the issue of the card. The Scheme of the proposed Bill provides that this charge should be assessable for fairness under the provisions on unfair terms in consumer contracts and must be disclosed to the consumer before he or she is bound by the gift voucher contract.
Gift card products of the kind referred to in the Deputy’s question come within the scope of the European Communities (Electronic Money) Regulations 2011 (S.I. No. 183/2011) enacted by the Minister for Finance and enforced by the Central Bank. These Regulations deal with the taking up, pursuit, and prudential supervision of electronic money institutions and the issuance and redeemability of electronic money. Questions relating to the funds of gift card schemes within the scope of the Regulations are a matter accordingly for the Minister for Finance.
