Citation and commencement

1. This Order may be cited as the Timeshare (Cancellation Information) Order 2003 and shall come into force on 31st October 2003.

Interpretation

2. In this Order—

“the Act” means the Timeshare Act 1992;

“blank cancellation notice”, in the case of a timeshare agreement, means a blank notice of cancellation which the agreement is required to contain by section 2(2F) of the Act( 2 ), and, in the case of a timeshare credit agreement, means a blank notice of cancellation which a timeshare credit agreement is required to contain by section 3(6) of the Act( 3 );

“required information”, in the case of a timeshare agreement, means information which the agreement is required to contain by section 2 of the Act and, in the case of a timeshare credit agreement, means information which the agreement is required to contain by section 3 of the Act.

Form of timeshare agreements

3. —(1) A timeshare agreement shall include the required information in the form set out—

(a) in Part I of Schedule 1 to this Order, unless the agreement fulfils the conditions set out in either subsection (2B) or subsection (2D) of section 2 of the Act;

(b) in Part II of that Schedule, if the agreement fulfils the conditions set out in subsection (2D), but does not fulfil the conditions set out in subsection (2B), of that section; or

(c) in Part III of that Schedule, if the agreement fulfils the conditions set out in subsection (2B) of that section.

(2) If a timeshare agreement includes provision for providing credit for or in respect of the offeree, it shall also include the information which it is required to contain by section 2(2A) of the Act in the form set out in Schedule 2 to this Order.

(3) A timeshare agreement shall include a blank cancellation notice in the form set out in Part I of Schedule 4 to this Order.

(4) The required information and the blank cancellation notice shall be set out at the end of the timeshare agreement.

(5) A timeshare agreement shall include, immediately adjacent to the place where the offeree signs the agreement, the statement, “YOU HAVE THE RIGHT TO CANCEL THIS AGREEMENT. YOU HAVE UNTIL IN WHICH TO DO SO. (THIS DATE MUST BE AT LEAST FOURTEEN DAYS AFTER THE DAY YOU SIGNED THE AGREEMENT). PLEASE REFER TO THE END OF THE AGREEMENT FOR FURTHER DETAILS OF YOUR CANCELLATION RIGHTS.”.

Form of timeshare credit agreements

4. —(1) A timeshare agreement shall include the required information in the form set out—

(a) in Part I of Schedule 3 to this Order, or

(b) in Part II of that Schedule, if the agreement fulfils the conditions set out in subsection (4) of section 3 of the Act.

(2) A timeshare credit agreement shall include a blank cancellation notice in the form set out in Part II of Schedule 4 to this Order.

(3) The required information and the blank cancellation notice shall be set out at the end of the timeshare credit agreement.

(4) A timeshare credit agreement shall include, immediately adjacent to the place where the offeree signs the agreement, the statement, “YOU HAVE THE RIGHT TO CANCEL THIS AGREEMENT. YOU HAVE UNTIL IN WHICH TO DO SO. (THIS DATE MUST BE AT LEAST FOURTEEN DAYS AFTER THE DAY YOU SIGNED THE AGREEMENT). PLEASE REFER TO THE END OF THE AGREEMENT FOR FURTHER DETAILS OF YOUR CANCELLATION RIGHTS.”.

Lettering requirements

5. —(1) The lettering of the required information, of the blank cancellation notices and of the statements referred to in articles 3(5) and 4(4) shall be of a size and type that is easily legible and of a colour which is easily distinguishable from the background on which they are set out.

(2) For the required information and the blank cancellation notices, capital letters shall be used in all the places in which they are shown in each Schedule and words shall be in bold lettering in accordance with the Schedules.

(3) Capital letters shall be used for all the words in the statements referred to in articles 3(5) and 4(4).

(4) The lettering of the words “IMPORTANT—YOU SHOULD READ THIS CAREFULLY” and “YOUR RIGHT TO CANCEL THIS AGREEMENT” in the required information shall be larger than any other lettering in the required information.

Information to be inserted

6. —(1) In the required information and the blank cancellation notices, there shall be inserted in the blank spaces in the form set out in the appropriate Schedule the information referred to in the square brackets besides the blank spaces.

(2) In the statement referred to in article 3(5), there shall be inserted in the blank space after the word “until” the date which must be specified in the agreement by virtue of section 2(2)(a) of the Act.

(3) In the statement referred to in article 4(4), there shall be inserted in the blank space after the word “until” the date which must be specified in the agreement by virtue of section 3(2)(a) of the Act.

Article 3(1)

SCHEDULE 1

PART I

PART II

PART III

Article 3(2)

SCHEDULE 2

Article 4(1)

SCHEDULE 3

PART I

PART II

Articles 3(3) and 4(2)

SCHEDULE 4

PART I

PART II