The new law does not apply to vouchers issued before its start date
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My voucher was bought 2 weeks after the new law was passed so in my opinion should be covered by it.
It was bought online on Ryanair’s website which as I understand is governed by Irish Law. This is part of the reply I received from Ryanair:
Please be advised that gift vouchers are non-refundable and the expiry date of the vouchers can not be extended, if not used until the expiry date, the amount on the voucher is lost.