When launching a legal case regarding your timeshare, it’s important to have an understanding of what the regulations are in relation to timeshare contracts. Though some of the information contained in some of these Regulations may seem somewhat complicated, we know that you will probably be interested in taking a look for yourself.
As such, please see below part 3 of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010, which sets out the legal requirements and restrictions placed upon timeshare companies in order to be compliant and offer you a fair and legal contract.
The Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010 is comprised of several parts, all of which we have covered on the blog. For links, please see below:
- Part 4: FORMALITIES
- Part 5: TERMINATION OF REGULATED CONTRACTS
- Part 6: PAYMENTS
- Part 7: OFFENCES & PENALTIES
- Part 8: ENFORCEMENT
Parts 1 and 2, as well as the additional supplementary information of Part 9, can be viewed in full on the UK Government Legislation website.
PART 3 PRE-CONTRACTUAL MATTERS
(1) Before entering into a regulated contract, the trader must—
(a) give the consumer the key information in relation to the contract, and
(b) ensure that the information meets the requirements of this regulation.
(2) The trader must comply with paragraph (1) in good time before entering into the contract.
(3) The “key information” in relation to a contract means—
(a) the information required by Part 1 of the standard information form (see regulation 13(2)),
(b) the information set out in Part 2 of that form, and
(c) any additional information required by Part 3 of that form.
(4) The information must be—
(a) clear, comprehensible and accurate, and
(b) sufficient to enable the consumer to make an informed decision about whether or not to enter into the contract.
(5) The information must be provided—
(a) in the standard information form, completed in accordance with regulation 13(1),
(b) in writing,
(c) free of charge, and
(d) in a manner which is easily accessible to the consumer.
(6) If the consumer is resident in, or a national of, an EEA State, the information must be provided in a language which is an official language of an EEA State and which is—
(a) the language, or one of the languages, of the EEA State in which the consumer is resident, or
(b) the language, or one of the languages, of the EEA State of which the consumer is a national.
(7) If there are two or more languages in which the information could be provided under paragraph (6), the trader must give the consumer the opportunity to nominate one of them and—
(a) where the consumer does make a nomination, the information must be provided in the nominated language;
(b) where the consumer does not make any nomination, the information may be provided in any one of those languages.
(8) A trader who contravenes paragraph (5) of this regulation commits an offence.
Completing the standard information form
(1) The standard information form must be completed as follows—
(a) the information required by Part 1 of the form must be inserted in the appropriate places (without deleting the existing text in that Part),
(b) Part 2 of the form must not be amended, and
(c) the information required by Part 3 of the form must be inserted in the appropriate places in accordance with any applicable notes (which may then be deleted).
(2) The “standard information form” means the form set out in—
(a) Schedule 1, in the case of a timeshare contract;
(b) Schedule 2, in the case of a long-term holiday product contract;
(c) Schedule 3, in the case of a resale contract; and
(d) Schedule 4, in the case of an exchange contract.
Marketing and sales
(1) Any advertising related to a regulated contract must indicate how the key information in relation to the contract can be obtained.
(2) A trader must not offer an opportunity to enter into a regulated contract to a consumer at a promotion or sales event unless—
(a) the invitation to the event clearly indicates the commercial purpose and nature of the event, and
(b) the key information in relation to the proposed regulated contract is made available to the consumer for the duration of the event.
(3) A trader must not market or sell a proposed timeshare contract or long-term holiday product contract as an investment if the proposed contract would be a regulated contract.
(4) The references to key information in this regulation are references to key information which meets the requirements of regulations 12(4) to (7).
(5) A trader who contravenes paragraph (3) commits an offence.
Of course, if you have any queries about what you have read here, or simply want to talk more about your timeshare agreement, then please do not hesitate to get in touch. We’re always happy to chat you through anything that’s on your mind, and help wherever we can.