Riigikogu seadus terviktekst avaldamine avaldatud , enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union, Council Decision 2010/416/EU of 13 July 2010 (OJ L 196, 28.07.2010, pp 24–26). 2010-04-22 RT I 2010 22 108 13310847 2011-01-01 RT V2025-01-09+02:0020251509012025001 2025-01-01+02:00 1 2025-01-08 tyviseadus_1_10.02.2010.xsd 509012025001 6 2025-01-09 Mari Peetris 100018Tüviseaduse raamskeem XML struktuuri koostamiseks Act on Introduction of Euro and Euro Cash Settlements RT I 2024-05-30 2 130052024002 2025-01-01 2010-06-10 RT I 2010 41 241 13332259 2011-01-01 , enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union, Council Decision 2010/416/EU of 13 July 2010 (OJ L 196, 28.07.2010, p. 24–26). 2010-06-17 RT I 2010 44 261 13335732 2011-01-01 , enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union, Council Decision 2010/416/EU of 13 July 2010 (OJ L 196, 28.07.2010, p. 24–26). 2010-06-17 RT I 2010 44 262 13335738 2011-01-01 , enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union, Council Decision 2010/416/EU of 13 July 2010 (OJ L 196, 28.07.2010, p. 24–26). 2010-10-13 RT I 2010-11-08 1 108112010001 2011-01-01 , enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union, Council Decision 2010/416/EU of 13 July 2010 (OJ L 196, 28.07.2010, p. 24–26). 2010-10-20 RT I 2010-11-18 1 118112010001 2011-01-01 , repealing clauses 7 and 13 of § 195 2010-10-27 RT I 2010-11-18 2 118112010002 2011-01-01 , repealing clauses 12 and 13 of § 9 and clauses 1 and 2 of § 191 2010-11-11 RT I 2010-11-29 3 129112010003 2011-01-01 , amending clauses 2–4 of § 36 2010-11-10 RT I 2010-11-30 11 130112010011 2011-01-01 , repealing § 120 2010-12-08 RT I 2010-12-17 19 117122010019 2011-01-01 , repealing clause 1 of § 44 and clause 12 of § 72 2010-12-08 RT I 2010-12-21 5 121122010005 2011-01-01 , repealing clause 4 of § 61 2010-12-16 RT I 2010-12-30 2 130122010002 2011-01-01 2015-12-09 RT I 2015-12-31 1 131122015001 2016-03-01 2024-05-15 RT I 2024-05-30 2 130052024002 2025-01-01 1 GENERAL PROVISIONS 1 Scope of application of Act The Act on Introduction of Euro regulates the exchange of Estonian kroons issued on the basis of the Republic of Estonia Money Act (hereinafter in this Chapter kroons) into euros, withdrawal of the kroon from circulation, dual circulation of the kroon and the euro and euro cash settlements.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 2 Obligation to accept euros without limitations 1 Eesti Pank and credit institutions operating in Estonia are required to accept euro coins and banknotes without limitations. 2 Persons not specified in subsection 1 of this section are required to accept up to 50 valid euro coins at a time, regardless of their value, and banknotes without limitations unless the use of another method of payment has been agreed upon.[RT I, 31.12.2015, 1 - entry into force 01.03.2016] 3 Liability for violation of the obligation provided for in this section and in subsection 2 of § 3 of this Act shall be provided for in the Consumer Protection Act. 3 Dual circulation of kroon and euro 1 Banknotes and coins denominated in kroons shall maintain their status of legal tender for 14 days after the entry into force of this Act. 2 During the period specified in subsection 1 of this section, the persons not specified in subsection 1 of § 2 of this Act are required to accept kroon coins with the value of up to 20 kroons at a time, and banknotes without limitations. 4 Withdrawal of kroon from circulation 1 Issue of kroons shall be terminated by the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union (hereinafter in this section date of abrogation of derogation). As of this date, Eesti Pank is required to withdraw kroons from circulation free of charge. 2 Eesti Pank shall accept damaged or mutilated kroon banknotes and coins if more than half of the banknote is presented and the series and number thereof are fully legible, and the nominal value and date of minting of the coin are legible. 3 For the purposes of withdrawal of the kroon from circulation, credit institutions are required to exchange kroons into euros in branches providing cash services free of charge for six months after the date of abrogation of derogation. Credit institutions shall exchange damaged or mutilated kroon banknotes and coins into euros under the conditions specified in subsection 2 of this section on the authorisation of Eesti Pank. 5 Conversion of kroons into euros 1 Kroons shall be converted into euros on the basis of the conversion rate between the euro unit and the kroon unit which is determined by the Council of the European Union in accordance with Article 140(3) of the Treaty on the Functioning of the European Union. 2 The result received pursuant to the procedure provided for in subsection 1 of this section shall be rounded to the accuracy of 1 cent based on the third decimal. If the third decimal is 0–4, the second decimal shall remain unchanged. If the third decimal is 5–9, the second decimal shall be rounded up by one. 3 Withdrawal of the kroon from circulation shall not have the effect of altering any term of a legal instrument or of discharging or excusing performance under any legal instrument, nor give a party the right unilaterally to alter or terminate such an instrument unless otherwise provided by the terms of the legal instrument or an agreement of the parties. 4 After the end of the dual circulation period, references to kroons in legislation shall be construed as references to euros according to the conversion rate determined pursuant to the procedure provided for in subsection 1 of this section and the received result shall be rounded according to subsection 2 of this section. 5 The term "legal instrument" specified in subsection 3 of this section is used within the meaning of Article 1 of the Council Regulation (EC) No 1103/97 on certain provisions relating to the introduction of the euro (OJ L 162, 19.6.1997, p. 1–3). 1 1]]> EURO CASH SETTLEMENTS RT I 2024-05-30 2 130052024002 2025-01-01 5 1. ]]> Rounding of final price for cash payments 1 Upon settlement of cash payments made in euro at a physical point of sale, the final price to be paid is rounded: 1 up to a whole multiple of five cents in the case the final price of the goods or services ends with three, four, eight or nine cents before rounding; 2 down to a whole multiple of five cents in the case the final price of the goods or services ends with one, two, six or seven cents before rounding. 2 Where payment for goods or services is made both in cash and in another means of payment at the same time at a physical point of sale, only the amount of the cash payment is rounded and in the case it is the last payment. 3 The final price to be paid is not rounded in the case it is less than three cents or a means of payment other than cash is used. 4 The provisions of subsection 1 of this section also apply to the return of goods purchased from a physical point of sale and to the cash refund for services provided in the case the goods purchased or the services provided were paid for in cash. The provisions of subsection 1 of this section do not apply in the case the goods to be returned or the services provided were paid for by another means of payment. 5 The provisions of subsection 4 of this section may be applied where the buyer has been given the opportunity to decide how the money paid for the goods to be returned or the services provided is to be refunded and the buyer has consented to the refund of the money in cash.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 5 2. ]]> Notification of rounding of final price 1 Upon settlement of cash payments made in euro at a physical point of sale, the information about rounding the final price of the goods or services must be provided to the consumers in writing in such a manner as to be clearly legible as well as unambiguous and easily identifiable for consumers. 2 Upon settlement of cash payments made in euro at a physical point of sale, the rounded final price to be paid for goods or services must be presented in such a manner as to be distinguishable from the selling price and the unit price of the goods and the final price of the services.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 5 3. ]]> Person obligated to round final price The requirements provided in this Chapter are mandatory for traders for the purposes of the Law of Obligations Act and traders for the purposes of the Consumer Protection Act.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 5 4. ]]> Application of provisions The provisions of this Chapter apply to consumers, sole proprietors and representatives of legal persons.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 1 2]]> STATE SUPERVISION RT I 2024-05-30 2 130052024002 2025-01-01 5 5. ]]> State supervision 1 State supervision over compliance with the requirements provided in Chapter 1¹ of this Act is exercised by the Consumer Protection and Technical Regulatory Authority. 2 In order to exercise state supervision provided in this Act, the Consumer Protection and Technical Regulatory Authority may apply the specific state supervision measure provided in § 30 of the Law Enforcement Act on the basis of and pursuant to the procedure provided in the Law Enforcement Act.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 2 IMPLEMENTING PROVISIONS 1 Amendment and Repeal of Acts 6 – 98 [Omitted from this text] 99 [Repealed – RT I 2010, 44, 261 – entry into force 01.01.2011] 100 – 127 [Omitted from this text] 128 [Repealed – RT I 2010, 44, 262 – entry into force 01.01.2011] 129 – 170 [Omitted from this text] 171 [Repealed – RT I 2010, 41, 241 – entry into force 01.01.2011] 172 – 230 [Omitted from this text] 1 1]]> Application of rules for rounding RT I 2024-05-30 2 130052024002 2025-01-01 230 1. ]]> Transitional period for application of rounding of final price The persons specified in § 5³ of this Act are required to bring their activities into compliance with the requirements provided in this Act by 1 January 2025.[RT I, 30.05.2024, 2 – entry into force 01.01.2025] 2 Entry into force of Act 231 Entry into force of Act 1 This Act enters into force on the date which has been determined in the Decision of the Council of the European Union regarding the abrogation of the derogation established in respect of the Republic of Estonia on the basis provided for in Article 140(2) of the Treaty on the Functioning of the European Union. 2 [Omitted from this text.] 3 [Omitted from this text.]