Posted on October 23, 2008 in Latest News
Customers of timeshares and recreation or holiday clubs will get several protections under a new law passed on 22nd October, 2008 by the European Union to control timeshare industry abuses. The new law provides a flexible right and some time for timeshare consumers to decide about the timeshare deal.
The important benefits the customers of timeshares will gain from the new law are :
A Brief Flashback :
Timeshare became popular in 1970s – especially among English and German tourists spending holiday trips in Spain, France and other countries like Italy. Timeshare operators usually sell the right to patrons to spend a week a year at their any of the properties.
Initiative – Taken By the EU :
As an initiative among some other measures, the European Union handled the problem with legislation in 1994 that made timeshare operators to increase their disclosure and defended them from allowing deposits from consumers.
According To the Officials of the EU :
Consumer Commissioner of the European Union, Meglena Kuneva says, “ the new rules will definitely protect the rights of consumers as well as it controls rogue operators who are exploiting loopholes in the law”.
According to some of the European Union officials, European regulation on timeshares is must because timeshare patrons and operators often come from various nations across the common market.
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