S.I. No. 281/2016 - European Communities (Late Payment in Commercial Transactions) (Amendment) Regulations 2016.
Notice of the making of this Statutory Instrument was published in | ||
“Iris Oifigiúil” of 31st May, 2016. | ||
I, MARY MITCHELL O’CONNOR, Minister for Jobs, Enterprise and Innovation, in exercise of the powers conferred on me by section 3 of the European Communities Act 1972 (No. 27 of 1972) and for the purpose of giving further effect to Directive 2011/7/EU of 16 February 20111 , hereby make the following regulations: | ||
1. These Regulations may be cited as the European Communities (Late Payment in Commercial Transactions) (Amendment) Regulations 2016. | ||
2. In these Regulations, "Principal Regulations" means the European Communities (Late Payment in Commercial Transactions) Regulations 2012 ( S.I. No. 580 of 2012 ). | ||
3. Regulation 2 of the Principal Regulations is amended, in paragraph (1)— | ||
(a) in the definition of “contractual or statutory period of payment”, by the substitution of “the contract or” for “the contact or”, and | ||
(b) in the definition of “relevant payment date” by— | ||
(i) the substitution of the following paragraph for paragraph (a): | ||
“(a) the date, or end of the period for payment, specified in the contract, provided that— | ||
(i) in the case of a commercial transaction between undertakings, where that date, or the duration of that period, exceeds 60 calendar days, that date, or the duration of that period, shall— | ||
(I) be expressly agreed in that contract, and | ||
(II) not be grossly unfair, within the meaning of Regulation 6, to the supplier, | ||
or | ||
(ii) in the case of a commercial transaction between an undertaking and a public authority, that date, or the duration of that period, shall not exceed 30 calendar days;”, and | ||
(ii) the deletion of paragraph (d). | ||
4. Notwithstanding the amendment, by these Regulations, to the Principal Regulations, nothing in these Regulations shall operate to affect a contract referred to in the definition of “relevant payment date” which was made before, and is in force on, the day on which these Regulations come into operation. | ||
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GIVEN under my Official Seal, | ||
25 May 2016. | ||
MARY MITCHELL O’CONNOR, | ||
Minister for Jobs, Enterprise and Innovation. | ||
