> [10] (bad) Subscriptions (purchased games) cancelled because of account 
> cancellation can't be transferred or refunded.
> 
> Section 10:B
> You may cancel your Account at any time.  You may cease use of a 
> Subscription at any time or, if you choose, you may request that we 
> terminate your access to a Subscription.  However, Subscriptions are not
>  transferable, and even if your access to a Subscription for a 
> particular game or application is terminated, the original activation 
> key will not be able to be registered to any other account, even if the 
> game or application was purchased in a retail store.  Access to 
> Subscriptions purchased as a part of a pack or bundle cannot be 
> terminated individually, termination of access to one game within the 
> bundle will result in termination of access to all games purchased in 
> the pack will be removed from the account.  Your cancellation of an 
> Account, or your cessation of use of any Subscription or request that 
> access to a Subscription be terminated, will not entitle you to any 
> refund, including of any Subscription fees.

In response to Valve's refund policy the Australian Competition and Consumer 
Commission (ACCC) have launched legal action as it breaches Australian Consumer 
Law for more info see 
http://www.accc.gov.au/media-release/full-steam-ahead-accc-institutes-proceedings-against-valve-for-making-alleged-misleading-consumer-guarantee-representations

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