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Law

BOX1

Resales and Exchange Regulations

The aim of this new Directive is to create a simplified and coherent framework for the regulation of timeshare and long-term holiday products, as well as exchange and resale. The new Directive extends the entire scope of the current rules:

 

In respect to:-

 

long term holiday products (i.e. holiday clubs)

 

shorter term contracts – all purchases for a period of one year or more including tacit renewal of shorter periods

 

all forms of holiday accommodation (including boats and other moveable property such as caravans or cruise ships) European Commission, Review of the Timeshare Directive (94/47/EC), June 2006

 

http://www.europa.eu/rapid/pressReleasesAction.do?reference=IP/06/709&format=HTML&aged=0&language=EN&guiLanguage=en

 

re-sale of timeshare or holiday club membership by consumers

 

exchange services (i.e. some timeshare owners pay an additional fee to join an exchange club, where they can swap their week in, say, the Canaries for a week in another location)

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