What changed: A regulation amendment granting the Ministry of Trade authority to determine instalment periods and introduce additional restrictions for instalment sales of goods and services, excluding housing sales, was published in the Official Gazette. The supplied evidence does not include the referenced table of instalment periods.
Who is affected
The announcement concerns retailers making instalment sales to consumers. It addresses methods such as promissory-note sales outside credit card, shopping loan and consumer financing sales governed by the Banking Regulation and Supervision Board. Housing sales are excluded from the authority described.
What it means for your business
For retailers using promissory notes for instalment sales, the publication establishes a change concerning the Ministry’s decision-making authority over instalment periods; the supplied evidence does not identify the applicable period.
What to watch
No specific action required of your business can currently be established from the supplied evidence. Review the table referenced in the announcement and assess the instalment period specified for your sales method.
Timing
The evidence confirms publication of the regulation amendment but does not specify its effective date.
