Quiz answers

1. For timeshare contracts made in the European Union what is the minimum cancellation period that a consumer may be given?

10 days.

2. In June 2007 the European Commission adopted a proposal to increase it to how many days?

14 days.

3. There will be a new definition of 'Timeshare', meaning that the proposed new regulations will cover contracts that last for a period of more than one year. To be regulated at present for what period must the agreements last?

More than 3 years.

4. The Commission has observed that there are many complaints concerning those timeshare resale businesses who ask for large payments upfront when promising to sell a consumer's existing timeshare. How does the proposed directive deal with that?

It prohibits payments in advance until the actual sale has taken place or the resale contract has otherwise been terminated.

5. For the first time it is proposed to regulate 'long term holiday products'. What is meant by that expression?

A 'long-term holiday product' means a contract of more than one year duration by which a consumer acquires the right to obtain discounts or other benefits on accommodation, in isolation or together with travel or other services.

6. At present only timeshares relating to 'immovable property' are regulated. What sorts of timeshares will be covered by the new proposals that aren't at the moment?

Contracts for accommodation in canal boats, caravans or cruise-ships will be covered if the proposals are adopted.