A relative has a share spreadbet ( loss) debt in Ireland, do they have to pay it or can it be treated as a gambling debt e.g. Uninforceable) ?
The person is considering challaging a court summons
The short answer is that they have to pay it. The provisions of section 36(1) of the Gaming act, 1956 which makes gaming contracts unenforceable has been superseded in relation to financial market contracts by the MiFiD Regulations 2007 and the Markets in Financial Instruments & Miscellaneous Provisions Act, 2007, which makes those contracts regulated by the financial regulator and enforceable.
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