The bill is expected to be signed into law next year.
The government has approved measures to ensure that gift vouchers will be valid for a period of five years after they have been sold.
On Thursday, Minister for Business, Enterprise and Innovation Heather Humphreys proposed the Consumer Protection (Gift Vouchers) Bill 2018 in a bid to tackle a lack of regulation where gift vouchers are concerned.
Should the bill pass it will exclude retailers from cancelling vouchers due to incorrect spelling or incorrect names present.
They will also be prohibited from introducing additional charges in the event of changing a name on a voucher.
As it stands, there is no official expiration date attached to gift vouchers under Irish law, and so retailers are generally free to dictate their own terms.
The Minister noted that it is an especially fitting time to introduce the change in legislation, though the bill itself was first drafted in June of this year.
“This has been a real bugbear for people for many years and it is particularly relevant now in the run-up to Christmas when many of us will buy gift vouchers for family and friends,” she said.
Humphreys added that the bill has the support of all parties and she anticipates that it will be signed into law in early 2019.
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