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Directive 97/7/EC of the European Parliament and of the Council of 20 May 1997 on the protection of consumers in respect of distance contracts - Statement by the Council and the Parliament re Article 6 (1) - Statement by the Commission re Article 3 (1), first indent · European Union

The Member States shall make provision in their legislation to ensure that: if the price of goods or services is fully or partly covered by credit granted by the supplier, or if that price is fully or partly covered by credit granted to the consumer by a third party on the basis of an agreement between the third party and the supplier, the credit agreement shall be cancelled, without any penalty, if the consumer exercises his right to withdraw from the contract in accordance with paragraph 1. Member States shall determine the detailed rules for cancellation of the credit agreement.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-22 · Text as adopted (Official Journal); later amendments are not incorporated in this text.