32 Electronic Transactions No. 33 withdraw from the contract without penalty and without giving reasons. (2) The period referred to in subsection (1) shall be extended to forty five calendar days for distance contracts relating to life insurance and retirement. (3) The term during which the right of withdrawal may be exercised starts__ (a) either from the day when the distance contract was concluded, except the case of the life insurance with respect to which the term of withdrawal starts from the date when the consumer became aware of the conclusion of a distance contract; or (b) from the day when the consumer received the terms and conditions of the contract, if the period is later than the period prescribed under subsection (1). (4) The right of withdrawal shall not apply__ (a) to financial services having prices dependent on fluctuations of the financial market on which the supplier has no influence and which are susceptible to occur during the withdrawal period; (b) to insurance of travel or luggage, or similar types of short-term insurance not exceeding one month; and (c) to contracts__ (i) executed exclusively by the supplier and the consumer; (ii) executed upon the express request of the consumer; and (iii) where the consumer has not yet exercised the right of withdrawal. (d) to online auctions; (e) to supply of food stuffs, beverages and other goods intended for daily consumption; (f) where audio or video recordings or computer software were downloaded, or unsealed by the consumer; (g) to sell of newspapers, periodicals, magazines and books; (h) to the provision of gaming and rotary services; (i) to online gambling; (j) to the provision of accommodation, transport and catering services; and (k) to start up transactions as the Minister may by Notice published in the Gazette prescribe.