Part 4: Consumer rights and disputes Cooling-off rights Section 265: Meaning of "initial cooling-off period" and "renewal cooling-off period"
This section outlines the two kinds of "cooling-off period" during which a consumer may exercise a right to cancel under section 264. A "cooling-off period" is a 14-day period where a consumer may cancel their contract for any reason and receive such refund as is prescribed under regulations made under section 267, subject to any deductions that may apply under those regulations.
	This section defines what a "cooling-off period" is and explains the distinction between an "initial" cooling-off period and a "renewal" cooling off period.
	Subsection (1) describes the initial cooling-off period, which is similar to the cancellation period in The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013. It starts from the day the contract is entered into and ends 14 days after the date of the contract, or, in the case of contracts for the supply of goods, the period ends 14 days after the date when the first goods are received.
	Subsection (2) describes the renewal cooling-off period, which only applies in the case of a ‘relevant renewal’ of a subscription contract. It provides that the renewal cooling-off period starts on the day of the relevant renewal and ends 14 days beginning with the day after that date.
	Subsection (3) indicates that relevant renewals are:
The first renewal payment to which a consumer becomes liable following the end of an initial free or discounted period; and
Any other renewal payment where:
the next following renewal payment will not be due for 12 months or more, or
no further renewal payments will be payable, but the contract will continue for a period of 12 months or more.
	Subsection (4), paragraph (b) defines how the "12-month period" is to be assessed for the purposes of determining whether a renewal is a ‘relevant renewal’.
	Subsection (5) clarifies that, to identify when the first supply of goods has taken place for the purposes of determining the commencement of the initial cooling-off period under subsection (1), paragraph (b), subparagraph (i), when that supply consists of multiple goods, the 14-day period would only start to run once all of the goods, which form part of the first supply, are received.
	Subsection (6) provides that this section is subject to any extensions of a cooling-off period that may be provided for by regulations under section 267 subsection (1) paragraph (c).