Part 4: Consumer rights and disputes Chapter 3: Consumer Savings Schemes Section 288: Information requirements
This section sets out information to be provided to the consumer by the trader once the consumer has joined a consumer savings scheme, the time for providing that information and the manner of its provision.
	Subsection (1) sets out the information a trader must provide to a consumer when using an insurance or trust arrangement to protect consumer funds. The trader is required to provide the information to the consumer within 30 working days of the consumer’s first payment into the consumer savings scheme.
	Subsection (2) sets out the information a trader must provide where there is a change to the information in subsection (1) and the time within which the consumer should be notified.
	Subsection (3) makes provision for a consumer to request the information in subsection (1) and for the trader to provide the information for free within 30 working days of receiving the request.
	Subsections (4) to (6) set out how the information should be provided to the consumer; it takes into account the way the consumer savings scheme contract was entered into.
	Subsection (7) mirrors section 285, subsection (3) - in other words, the information requirements apply to traders established outside the UK who operate consumer savings schemes in the UK.
	Subsection (8) makes it an implied term of contract that the trader operating a consumer savings scheme comply with the information requirements set out in this section.
	Subsection (9) sets out that, in addition, the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 will apply to consumer savings schemes insofar as obligations under those regulations are not met by the trader complying with the information requirements in this section.