Open on EUR-Lex ↗
◷
New version applies from 31/01/2014 — introduced by Regulation (EU) No 248/2014. 16 provisions change. Later versions: 08/04/2024. Article 7 changes in this version: compare with the current text.

Article 7 - Validity of mandates and right to a refund

Article 7
Validity of mandates and right to a refund

1. A valid payee authorisation to collect recurring direct debits in a legacy scheme prior to 1 February 2014 shall continue to remain valid after that date and shall be considered as representing the consent to the payer’s PSP to execute the recurring direct debits collected by that payee in compliance with this Regulation in the absence of national law or customer agreements continuing the validity of direct debit mandates.

2. Mandates as referred to in paragraph 1 shall allow for unconditional refunds and refunds backdated to the date of the refunded payment where such refunds have been provided for within the framework of the existing mandate.

Official text · the act as published Open full page ↗
9 queries · page built in 8 msInventory f82bbfa3