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Extended warranties bill passes first reading

Contributor:
Fuseworks Media
Fuseworks Media
Jackie Blue
Jackie Blue

Wellington, July 21 NZPA - A bill that would require shops to give buyers more information about extended warranties passed its first reading in Parliament tonight.

National MP Jackie Blue's Consumer Guarantees Amendment Bill has been sent to the commerce select committee, which will hear public submissions.

The member's bill says extended warranties typically apply to electrical goods and generally offer no further protection beyond the rights and remedies people already have under the Consumer Guarantees Act.

It would ensure that buyers are informed about whether an extended warranty for the item they are considering buying provides any benefit, right or convenience that is greater than their rights under the Act.

The bill also provides for a "cooling off period" after an item with an extended warranty has been purchased.

That would allow people to reconsider whether to continue with the extended warranty, and if they decided not to they would be entitled to a full refund of the amount paid for the warranty.

The bill passed its first reading on a unanimous vote.

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