A series of regulations for the market and consumer protection are included in a bill of the Ministry of Development and Investments that was submitted to the Parliament today.

With these provisions, among other things, the obligations of businesses when announcing price reductions are amended as follows:

“Each notice of a price reduction shall indicate the previous price applied by the trader for a specified period of time before the price reduction was applied. Previous price means the lowest price applied by the merchant during the thirty day period before the price reduction was applied. When the product has been on the market for less than thirty days, the previous price is the lowest price applied by the trader during the time the product has been on the market. Where the price is progressively reduced during the thirty days prior to the application of the price reduction, the previous price is understood to be the price in force before the application of the first of the successive price reductions.’

With other provisions:

– The validity of the initiative is extended “the household basket” until June 30.

-It is expected that licenses of producer and professional market sellerwhich at the time the law came into force have not been renewed, they can be renewed until 30.4.2023.

– It is stipulated that consumer associations are responsible for the accuracy of the information they announce for the information of the consumer public and when they announce information, which results from research they have carried out, they must make available to the consumer public and anyone interested, the information concerning the way of conducting the research. The communication to the consumer public of untrue information by the consumer association constitutes grounds for revocation of its certification.

– The direct business tax relief that implemented investment plans within the year 2022, but it was not possible to control them by the administration.

– The Hellenic Space Center is added to the country’s technological institutions.