PART 2KEY DEFINITIONS

Exchange contracts

10.—(1) An “exchange contract” means a contract between—

(a)a consumer who is also party to a timeshare contract, and

(b)a trader,

under which the consumer, for consideration, joins a timeshare exchange system.

(2) A “timeshare exchange system” is a system which allows a consumer access to overnight accommodation or other services in exchange for giving other persons temporary access to the benefits deriving from the consumer’s timeshare contract.