The Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010

PART 3 PRE-CONTRACTUAL MATTERS

Key information

12.—(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

13.—(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

14.—(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.