Review of the need to regulate the Timeshare Industry.
Terms of Reference
The review of timeshares which was referred to the Commission in December 2006 by the Attorney-General, with the approval of the then Leader of Government Business, is being conducted by the staff of the Commission. A wide variety of literature on the subject matter has been considered and the research to date has identified that the main problems faced in most jurisdictions which have timeshares include
- avoidance of existing legislation;
- high pressure selling;
- lack of cancellation rights;
- loss of deposits and pre-payments;
- a failure to protect deposits and other advance payments;
- unclear information about what is being sold;
- failure to provide clear information about the business involved and where to find them;
- misleading claims and
- financial failure of the business.