NATIONAL CODE ON EURO CHANGEOVER

1. Purpose of the Code

The purpose of the Code is to inform consumers by providing for transparency in the pricing of goods and services during the changeover from the Irish pound to the euro and to assist consumers, in a practical way, to become familiar with pricing in the new currency.(1)

2. Application of the Code. 

Suppliers of goods and services to consumers may subscribe to this Code by notifying the Director of Consumer Affairs in writing of their intention to do so.  Associations of such suppliers may subscribe on behalf of their members.

 

Suppliers of goods and services to the public may, as an alternative to subscribing to this Code, subscribe to other codes of practice, drawn up by business organisations, that relate to the changeover from the pound to the euro and that contain provisions for dual display of prices similar to the dual display provisions of this Code or varying from those provisions only insofar as is necessary to allow for factors pertaining in particular industries or sectors. Compliance with the terms of such codes shall be deemed to satisfy the requirements of this Code provided that the codes have been approved by the Director of Consumer Affairs.

 

            All suppliers of goods and services to consumers are encouraged to subscribe to this Code or to a code approved by the Director of Consumer Affairs (referred to below as “an approved code”).

 

            A list of subscribers to this Code and a list of approved codes may be obtained from the Director of Consumer Affairs.

3. Timetable for changeover to the Euro 

 The timetable for the changeover to the euro is:

 

·              1 January, 1999 to 31 December, 2001 (transitional period)

            - cashless transactions only may be made in euro.

 

·              1 January, 2002 (dual circulation period begins) 

- euro notes and coins will be put into circulation and the withdrawal of national notes and coins will begin.

 

·              9 February, 2002

- the changeover to the euro will be complete.

4. Period of application of the Code

The minimum period during which subscribers will be required to observe the Code will commence on 1 October, 2001 and end on 9 March, 2002.  Subscribers are encouraged to apply some or all of the measures provided for in the Code for such longer period as they consider appropriate in the interests of consumers. In particular, it is expected that dual display of prices will be introduced on a gradual basis before 1 October, 2001, and, where this is done, the provisions of the Code in regard to dual display will apply.

5. Commitments under the Code

Subscribers to the Code hereby make the following commitments:

 

5.1             Consumer familiarisation - dual display of prices

From 1 October 2001 until 9 March, 2002 prices of goods and services to the fullest extent practicable will be displayed in both currencies. Dual displays of prices will be unambiguous, easily identifiable and clearly legible.  Price displays should not be overloaded with figures. Dual display on individual products may be limited to the final price payable by the consumer (inclusive of e.g. VAT) and dual display on till receipts or bills may be limited to the total amount. Till receipts and bills should, where practicable, also show the six digit conversion rate (1 euro = £0.787564). In no case will a shortened conversion rate be shown on the till receipt or bill.

 

Dual display of prices prior to 1 January, 2002 will not entail an obligation to accept payment in euro.

 

5.2             Consumer protection

All subscribers to this Code commit to carrying out the changeover to the euro fairly and will seek no advantage from the conversion. The six digit conversion rate (1 euro = £0.787564) will be used in all price conversions.  Conversion will be carried out in accordance with EU rules.

 

An Irish pound amount shall be converted to a euro amount by dividing the Irish pound amount by 0.787564. The resulting euro amount should be rounded to two decimal places, i.e. to cent. Where the third figure after the decimal point is 4 or lower, the second figure after the decimal point should remain unchanged; where the third figure is 5 or higher, the second figure after the decimal point should be rounded up. For example, 3.174 should be rounded down to  3.17 and  6.348 should be rounded up to  6.35.

 

During the period which this Code applies, existing legal requirements concerning price displays, such as those contained in Price Display Orders and Indication of Prices [Unit Pricing] Regulations, will, of course, continue to apply.  The commitment to dual display of prices under this Code (or a commitment to alternative arrangements in an approved code) should be regarded as separate to these legal requirements.  Provisions for dual display should apply to price displays under Price Display Orders but need not apply to unit pricing where the unit price does not represent the final price paid by the customer.

 

5.3            Consumer information and assistance

            From 1 October, 2001 to 9 March, 2002 dual displays will form part of overall communications strategies designed to facilitate the changeover by consumers to the euro. Other measures will include the provision of information to consumers in suitable form during the transitional phase (the provisions of this Code also apply to such information, e.g. advertising including advertising in the media, leaflets, posters, window displays or display charts) and the training of staff. The requirements of blind, visually-impaired, disabled and older consumers will also be taken into account in the training of staff. Subscribers to the Code will keep on prominent display in an appropriate way the six-digit conversion rate between the euro and the Irish pound. Subscribers to the Code will provide information in-store to help customers understand the conversion from Irish pounds to euro and to facilitate price comparison.

6. Compliance with the Code 

As subscribers to the Code will do so on a voluntary basis, full compliance with its commitments is expected.  Subscribers themselves, and associations that subscribe on behalf of their members, will have the primary responsibility for observing the code and for dealing in the first instance with complaints of non-compliance. Should the matter not be resolved at this level, the complaint may be referred to the Director of Consumer Affairs. A contact point for each subscriber is included in the list of subscribers available from the Director of Consumer Affairs. The Director of Consumer Affairs, in association with the Minister for Labour, Trade and Consumer Affairs, reserves the right to take specific measures in relation to monitoring should the need arise.

                          7. Purpose of the Code

Subscribers to the Code or to an approved code will be entitled to display a logo devised by the Director, which shall be available from the Director’s office.  Display of the logo will inform consumers that the subscribers in question have agreed to undertake the commitments under this Code or under an approved code and will include a contact point for use by consumers in any case where they consider that the commitments are not being adhered to.

 

Should the Director form the view that a subscriber to the Code is not adhering to the commitments under this Code or under an approved code to which that subscriber has subscribed, she will inform that subscriber of her opinion.  Where the subscriber fails to take such remedial action as the Director might specify, the Director may withdraw the

subscriber’s entitlement to display the logo, and may also publicise her decision to do so in such manner as she considers appropriate. 

For further information regarding this Code please contact:

Office of the Director of Consumer Affairs

4-5 Harcourt Road

Dublin 2

Tel. (01) 4025500

Lo-call 1890    220229

Fax. (01) 4025501

                        E-Mail odca@entemp.ie

 

 

Cork Office

Norwich Union House

89-90 South Mall

Cork

Tel. (021) 427 4009

Fax. (021) 427 4109