Seminar on the Consumer Credit Directive

The European Directive on credit agreements for consumers must have been implemented in Dutch law by 11 June 2010. The new rules entail considerable changes in practice. For example, all credit providers will have to modify their credit agreements with consumers as well as their information material. The new rules will apply not only to cash credit, but also to the sale of goods on instalment credit terms and other forms of purchase financing.

Recent discussions which we held with the Ministries of Justice and Finance revealed that even for parties involved in the purchase of portfolios with consumer debts, the directive may have far-reaching consequences.

We are therefore pleased to invite you to the seminar on the Consumer Credit Directive on Thursday 20 May 2010, at which you will be given the opportunity to check whether your organization is prepared for this legislation. Besides the implementation of the Consumer Credit Directive, a topical tax subject will also be on the programme. The seminar will be held at our office in Utrecht and will begin at 3.30 pm.

The programme is as follows:

3.30 pm Arrival
3.45 pm Word of welcome
Jelle Timmenga, CMS Derks Star Busmann, partner Banking & Finance

4 pm Brief explanation of the legislative proposal by the legislator itself
Irma Dollen, Ministry of Finance
Ilona Wolffram-van Doorn, Ministry of Justice
Irma Dollen en Ilona Wolffram will guide you briefly through the most important amendments in the Civil Code and the Financial Supervision Act.

4.30 pm Impact in practice
Nienke Hohmann, CMS Derks Star Busmann, lawyer Banking & Finance
Taking various cases, Nienke Hohmann will discuss a number of problems that have been identified in practice.

5.15 pm Recent developments in the VAT system
Paul Hulshof, tax adviser CMS Derks Star Busmann
Paul Hulshof will explain briefly the recent developments in the area of VAT concerning purchase financing and the transfer of consumer debts.

5.30 pm Conclusion and drinks

More information?
For more information, please contact:

Business Development & Communications department
T +31 (0) 30 2121 509
E communications@cms-dsb.com