PART 3PRE-CONTRACTUAL MATTERS
Key information12
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 form13
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 sales14
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.