Cyprus Mail
Cyprus

Set sales periods due to be abolished

Parliament is expected in March to amend the law on sales, abolishing provisions that set specific periods for retailers to sell their products at a discount.

House Commerce Committee chairman, DISY MP, Zaharias Zahariou, said the amendment was required following a Supreme Court decision that the provisions violated European directives.

Retailers will still be obliged to list both the before and after price of a product during a sale.

The bill is the result of a 2012 Supreme Court ruling, which argued that setting specific periods for sales, though in line with local law, violated a 2005 European Union directive on unfair commercial practices.

The case related to fines imposed on retailers in 2011 by the Limassol District Court for selling apparel at a discount outside the mandated sales periods.

The three appealed the verdict and the Supreme Court found that the EU directive superseded local law and overturned the decision.

 



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