11.—(1) Any term in a contract to the effect that the prices laid down in the contract may be revised shall be void and of no effect unless the contract provides for the possibility of upward or downward revision and satisfies the conditions laid down in paragraph (2) below.
(2) The conditions mentioned in paragraph (1) are that—
(a)the contract states precisely how the revised price is to be calculated;
(b)the contract provides that price revisions are to be made solely to allow for variations in:—
(i)transportation costs, including the cost of fuel,
(ii)dues, taxes or fees chargeable for services such as landing taxes or embarkation or disembarkation fees at ports and airports, or
(iii)the exchange rates applied to the particular package; and
(3) Notwithstanding any terms of a contract,
(i)no price increase may be made in a specified period which may not be less than 30 days before the departure date stipulated; and
(ii)as against an individual consumer liable under the contract, no price increase may be made in respect of variations which would produce an increase of less than 2%, or such greater percentage as the contract may specify, (“non-eligible variations”) and that the non-eligible variations shall be left out of account in the calculation.
Commencement Information
I1Reg. 11 in force at 23.12.1992, see reg. 1