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The Timeshare Regulations 1997

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Regulation 3(3)

SCHEDULESchedule to be inserted in the Timeshare Act 1992

Schedule 1Minimum list of items to be included in a timeshare agreement to which section 1C applies

(a)The identities and domiciles of the parties, including specific information on the offeror’s legal status at the time of the conclusion of the agreement and the identity and domicile of the owner.

(b)The exact nature of the right which is the subject of the agreement and, if the accommodation concerned, or any of the accommodation in the pool of accommodation concerned, is situated in the territory of an EEA State, a clause setting out the conditions governing the exercise of that right within the territory of that State and if those conditions have been fulfilled or, if they have not, what conditions remain to be fulfilled.

(c)When the timeshare accommodation has been determined, an accurate description of that accommodation and its location.

(d)Where the timeshare accommodation is under construction—

(i)the state of completion,

(ii)a reasonable estimate of the deadline for completion of the timeshare accommodation,

(iii)where it concerns specific timeshare accommodation, the number of the building permit and the name and full address of the competent authority or authorities,

(iv)the state of completion of the services rendering the timeshare accommodation fully operational (gas, electricity, water and telephone connections),

(v)a guarantee regarding completion of the timeshare accommodation or a guarantee regarding reimbursement of any payment made if the accommodation is not completed and, where appropriate, the conditions governing the operation of those guarantees.

(e)The services (lighting, water, maintenance, refuse collection) to which the offeree has or will have access and on what conditions.

(f)The common facilities, such as swimming pool, sauna, etc., to which the offeree has or may have access, and where appropriate, on what conditions.

(g)The principles on the basis of which the maintenance of and repairs to the timeshare accommodation and its administration and management will be arranged.

(h)The exact period within which the right which is the subject of the agreement may be exercised and, if necessary, its duration; the date on which the offeree may start to exercise that right.

(i)The price to be paid by the offeree to exercise the right under the agreement; an estimate of the amount to be paid by the offeree for the use of common facilities and services; the basis for the calculation of the amount of charges relating to occupation of the timeshare accommodation, the mandatory statutory charges (for example, taxes and fees) and the administrative overheads (for example, management, maintenance and repairs).

(j)A clause stating that acquisitions will not result in costs, charges or obligations other than those specified in the agreement.

(k)Whether or not it is possible to join a scheme for the exchange or resale of the rights under the agreement, and any costs involved should an exchange or resale scheme be organised by the offeror or by a third party designated by him in the agreement.

(l)Information on the right to cancel or withdraw from the agreement and indication of the person to whom any letter of cancellation or withdrawal should be sent, specifying also the arrangements under which such letters may be sent; where appropriate, information on the arrangements for the cancellation of the credit agreement linked to the agreement in the event of cancellation of the agreement or withdrawal from it.

(m)The date and place of each party’s signing of the agreement.

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