Tourism Law in Europe

17 the extent of the obligations is broader for the tour organiser than for the retailer or the vendor of linked tourist service arrangement. However, there are some identical requirements for all three: they have to ensure that their own capital (public or private limited company) would be at least half of the stated capital quoted in the statutes. If the legal form of the tour organiser, travel retailer, and vendor of linked tourist service arrangement (legal person) is not a public or private limited company, the total financial commitments of the legal person may not exceed his total assets. Then, they must provide, to the supervision institution, a report in the format stipulated by that body containing the information needed to monitor the trader’s activities. In conclusion, Lithuanian law lays down formal requirements for the establishment and fulfilment of the activity of the tour organiser, the travel retailer, and the vendor of linked tourist service arrangement 36 . The main requirements for tourism services providers are summarised in the table below. Tour organiser • Obligation to have a certificate • To meet the impeccable repute requirement • To provide documents proving security of obligations and the sum of the security • To ensure that its own capital – public or private limited company – would be not less than ½ of the stated capital quoted in the statutes • If the legal form is not a public or private limited company, the total financial commitments of the legal person may not exceed its total assets • Obligation to provide reports to the supervisory institution 36 Bublienė,Danguolė;Navickaitė-Sakalauskienė,Ieva.ImplementationofthePackageTravelandLinkedTravelArrangementsDirective: Lithuanianexperience//CollectiveCommentaryontheNewPackageTravelDirective/editorsCarlosTorresetall.Estoril:ESHTE-Estoril HigherInstituteforTourismandHotelStudies,2020, pp. 990-991.