Page:Consumer Protection (Fair Trading) Act 2003.pdf/15

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(9) The Chairman shall, as soon as practicable after the end of each calendar year, submit to the Minister an annual report on the activities of the Panel.

(10) No action or proceedings shall lie against the Panel or any member thereof for any act or thing done under this Act unless it is proved to the court that the act or thing was done in bad faith or with malice.

Right to cancel certain contracts within cancellation period

11.—(1) The Minister may make regulations prescribing that a consumer who, in relation to a consumer transaction, has entered into a contract falling within any class of contracts specified in the regulations may cancel the contract within a cancellation period specified in the regulations.

(2) For the purposes of this section, the Minister may make regulations prescribing—

(a) the manner in which notices of cancellation may be properly given;
(b) any notice that the supplier must give to the consumer and the manner in which such notice may be properly given;
(c) the rights and obligations of parties to a contract cancelled pursuant to regulations made under this section, or any other contract entered into for the purposes of the cancelled contract, including the amount or value of any deposit, security, goods or compensation recoverable in an action arising from the cancellation; and
(d) the effect of cancellation pursuant to regulations made under this section on any rights the parties to the contract may otherwise have.

Limitation period

12.—(1) No action under section 6 shall be commenced later than one year from—

(a) the date of the occurrence of the last material event on which the action is based; or