Raise The Trading Schemes Regulations 1997 £200 liability limit to £500

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Raise The Trading Schemes Regulations 1997 £200 liability limit to £500

Additional Information

This petition is a request to raise the £200 liability limit in Section 10 of The Trading Schemes Regulations 1997 to £500 to to enable the UK to compete on the international stage whilst retaining protection for scheme participants.

The current legislation reads:

10. A promoter of, or a participant in, a trading scheme shall not accept from a participant joining the trading scheme any payment or an undertaking to make a payment of any sum exceeding £200 unless 7 days have expired from the making of the agreement relating to goods or services supplied or to be supplied under that agreement to the participant by the promoter or any other participant under the trading scheme.

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