A number of regulations on the market and consumer protection are included in the draft law of the Ministry of Development and Investment, submitted to Parliament today.

These provisions, among other things, introduce the following changes in the obligations of business entities when announcing a price reduction:

“Each price reduction notice must indicate the previous price applied by the seller within a certain period of time before the price reduction was applied. The previous price means the lowest price applied by the seller during the thirty-day period before the price reduction was applied. When the product is less than thirty days on the market, the previous price is the lowest price applied by the trader during the time the product was on the market. price cuts.”

With other provisions:

• Initiative has been extended “shopping basket” until 30 June.
• It is envisaged that the licenses of a manufacturer and a professional seller on the market, which were not renewed at the time of entry into force of the law, can be extended until April 30, 2023.
• It is envisaged that consumer associations are responsible for the accuracy of the information they provide to inform consumers, and when they communicate information resulting from their investigations, they must make it available to consumers and any interested party. information about the research method. The communication of unreliable information to the consumer society by the consumer association is the basis for the revocation of its certificate.
• Immediate tax incentives are provided for companies that have implemented investment plans during 2022, but the administration failed to control them.
• The Greek Space Center is added to the country’s Institutes of Technology.

Source: RES-IPE