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Timeshare Act 1992 (repealed)
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- UK Public General Acts
- 1992 c. 35
- Section 5
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Changes over time for: Section 5
Version Superseded: 23/02/2011
Alternative versions:
- 12/10/1992- Amendment
- 29/04/1997- Amendment
- 01/09/2003- Amendment
- 01/09/2003
Point in time - 23/02/2011- Amendment
Status:
Point in time view as at 01/09/2003. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Timeshare Act 1992 (repealed), Section 5.
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5 Right to cancel timeshare agreement.U.K.
(1)Where a person—
(a)has entered, or proposes to enter, into a timeshare agreement to which this Act applies as offeree, and
[F1(b)the agreement complies with the requirements of sections 2 and 4 of this Act,]
the agreement may not be enforced against him on or before the date specified [F2in the agreement in pursuance of section 2(2)(a) above] and he may give notice of cancellation of the agreement to the offeror at any time on or before that date.
(2)Subject to subsection (3) below, where
[F3(a)a person enters into a timeshare agreement to which this Act applies as offeree, but
(b)the agreement does not comply with the requirements of sections 2 and 4 of this Act,]
the agreement may not be enforced against him and he may give notice of cancellation of the agreement to the offeror at any time.
(3)If in a case falling within subsection (2) above the offeree affirms the agreement at any time after the expiry of the period of fourteen days beginning with the day on which the agreement is entered into—
(a)subsection (2) above does not prevent the agreement being enforced against him, and
(b)he may not at any subsequent time give notice of cancellation of the agreement to the offeror [F4under subsection (2) above].
[F5(3A)Where—
(a)the offeree is an individual, and
(b)the accommodation which is the subject of the agreement is accommodation in a building, or some or all of the accommodation in the pool of accommodation which is the subject of the agreement is accommodation in a building,
subsection (3) above applies as if for “fourteen days” there were substituted “three months and ten days”.
(3B)If in a case falling within subsection (3A) above the last day of the period of three months and ten days is a public holiday, the period shall not end until the end of the first working day after the public holiday.]
(4)The offeree’s giving, within the time allowed under this section [F6or section 5A of this Act], notice of cancellation of the agreement to the offeror at a time when the agreement has been entered into shall have the effect of cancelling the agreement.
(5)The offeree’s giving notice of cancellation of the agreement [F7under this section]to the offeror before the agreement has been entered into shall have the effect of withdrawing any offer to enter into the agreement.
(6)Where a timeshare agreement is cancelled under this section [F8or section 5A of this Act], then, subject to subsection (9) below—
(a)the agreement shall cease to be enforceable, and
(b)subsection (8) below shall apply.
(7)Subsection (8) below shall also apply where giving a notice of cancellation has the effect of withdrawing an offer to enter into a timeshare agreement.
(8)Where this subsection applies—
(a)any sum which the offeree has paid under or in contemplation of the agreement to the offeror, or to any person who is the offeror’s agent for the purpose of receiving that sum, shall be recoverable from the offeror by the offeree and shall be due and payable at the time the notice of cancellation is given, but
(b)no sum may be recovered by or on behalf of the offeror from the offeree in respect of the agreement.
(9)Where a timeshare agreement includes provision for providing credit for or in respect of the offeree, then, notwithstanding the giving of notice of cancellation under this section [F9or section 5A of this Act], so far as the agreement relates to repayment of the credit and payment of interest—
(a)it shall continue to be enforceable, subject to section 7 of this Act, and
F10(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 5(1)(b) substituted (1.9.2003) by The Timeshare Act 1992 (Amendment) Regulations 2003 (S.I. 2003/1922), reg. 1, Sch. para. 6(2)(a)
F2Words in s. 5(1) substituted (1.9.2003) by The Timeshare Act 1992 (Amendment) Regulations 2003 (S.I. 2003/1922), reg. 1, Sch. para. 6(2)(b)
F3Words in s. 5(2) substituted (1.9.2003) by The Timeshare Act 1992 (Amendment) Regulations 2003 (S.I. 2003/1922), reg. 1, Sch. para. 6(3)
F4Words in s. 5(3)(b) inserted (29.4.1997) by S.I. 1997/1081, reg. 9(1)
F5S. 5(3A)(3B) inserted (1.9.2003) by The Timeshare Act 1992 (Amendment) Regulations 2003 (S.I. 2003/1922), reg. 1, Sch. para. 6(4)
F6Words in s. 5(4) inserted (29.4.1997) by S.I. 1997/1081, reg. 9(2)
F7Words in s. 5(5) inserted (29.4.1997) by S.I. 1997/1081, reg. 9(3)
F8Words in s. 5(6) inserted (29.4.1997) by S.I. 1997/1081, reg. 9(4)
F9Words in s. 5(9) inserted (29.4.1997) by S.I. 1997/1081, reg. 9(5)
F10S. 5(9)(b) omitted (1.9.2003) by virtue of The Timeshare Act 1992 (Amendment) Regulations 2003 (S.I. 2003/1922), reg. 1, Sch. para. 6(5)
Commencement Information
I1S. 5 wholly in force at 12.10.1992 see s. 13(2) and S.I. 1992/1941, art. 2
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