David Stanton (Cork East, Fine Gael) | Oireachtas source

I asked earlier about the possibility of this being partially retrospective. In its submission A&L Goodbody said:

It is important for consumer-facing businesses to note that the system proposed is likely to be partially retrospective – so breaches of consumer law that occur even before the system is implemented in June 2023 may form the basis for claims under the new system, subject only to the time limits imposed by the Statute of Limitations.

Should traders and others be gearing up for this? As we speak there could be activities occurring that come under this new legislation even before it is implemented. It is an interesting point that people may not know about. I made the point, which comes up again further on here, that insurance costs may rise because of this. It would be an unwelcome development but is something we should keep an eye on and perhaps discuss as well to ensure it is limited to the maximum because insurance is having a massive impact on businesses. That indirectly falls on consumers because of higher costs.