Package Holidays and Travel Trade Act, 1995



Security requirements in the event of insolvency.

22.—(1) In relation to a package to which this Act applies, a package provider shall have sufficient evidence of security for the refund of money paid over and for the repatriation of the consumer in the event of insolvency.

(2) A package provider shall be deemed to have satisfied the requirements of subsection (1)

(a) by making any one or more of the arrangements as described in sections 23 to 25 in relation to the package, or

(b) if the package is one in respect of which the provider is required to hold a licence under the Act of 1982, and is covered by arrangements entered into for the purposes of that Act.

(3) A package provider, other than a package provider who holds a licence under the Act of 1982 in respect of the package in question and has made the necessary arrangements for the purposes of that Act, who fails to—

(a) make one of the arrangements described in subsection (2), or

(b) ensure that such arrangements are in force,

shall be guilty of an offence.

(4) For the purposes of this Part, a contract shall be deemed to have been fully performed if the package, or, as the case may be, the part of the package has been completed irrespective of whether the obligations under the contract have been properly performed for the purposes of section 20 .