- Latest available (Revised)
- Original (As made)
The Package Travel and Linked Travel Arrangements Regulations 2018
You are here:
- UK Statutory Instruments
- 2018 No. 634
- PART 5
- Regulation 23
What Version
Status:
This is the original version (as it was originally made).
Monies in trust
This section has no associated Explanatory Memorandum
23.—(1) Where an organiser, for the purpose of regulation 19(5), relies on the arrangements under this regulation, the organiser must ensure that—
(a)all monies, or
(b)where regulation 24(3) applies, a lesser sum in accordance with that regulation,
paid by or on behalf of a traveller under or in contemplation of a package travel contract are held in the United Kingdom or a member State by a person as trustee for the traveller.
(2) The monies are to be held under paragraph (1) until—
(a)the contract has been fully performed; or
(b)any sum of money paid by or on behalf of the traveller in respect of the contract—
(i)has been repaid to the traveller; or
(ii)has been forfeited on cancellation by the traveller.
(3) The person appointed as trustee for the purposes of paragraph (1) must be independent of the organiser.
(4) The costs of administering the trust mentioned in paragraph (1) must be paid for by the organiser.
(5) Any interest which is earned on the monies held by the trustee pursuant to paragraph (1) must be held for the organiser and must be payable to the organiser on demand.
(6) Where there is produced to the trustee a statement signed by the organiser to the effect that—
(a)a package travel contract, the price of which is specified in that statement, has been fully performed,
(b)the organiser has repaid to the traveller a sum of money specified in that statement which the traveller had paid in respect of a package travel contract, or
(c)the traveller has on cancellation forfeited a sum of money specified in that statement which the traveller had paid in respect of a package travel contract,
the trustee must release to the organiser the sum specified in the statement.
(7) Where the trustee considers it appropriate to do so, the trustee may require the organiser to provide further information or evidence of the matters mentioned in sub-paragraph (a), (b) or (c) of paragraph (6) before the trustee releases any sum to the organiser pursuant to that paragraph.
(8) In the event of the organiser’s insolvency, the monies held in trust by the trustee pursuant to paragraph (1) of this regulation must be applied to meet the claims of travellers who are creditors of that organiser in respect of package travel contracts in respect of which the trust mentioned in paragraph (1) has been established and which have not been fully performed.
(9) If there is a surplus after those claims have been met, it is to form part of the estate of the organiser for the purposes of insolvency law.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThe Whole Part
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
Impact Assessments
Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
- Why the government is proposing to intervene;
- The main options the government is considering, and which one is preferred;
- How and to what extent new policies may impact on them; and,
- The estimated costs and benefits of proposed measures.
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.