The Timeshare (Repayment of Credit on Cancellation) Order 1992

• Citation: S.I. 1992/1943
• Sections: 21

Section 1

This Order may be cited as the Timeshare (Repayment of Credit on Cancellation) Order 1992 and shall come into force on 12th October 1992.

Section 2

In this Order “ the Act ” means the Timeshare Act 1992.

Section 3

(1) Any request in writing, to be made to an offeree under section 7(3) of the Act, following the giving of notice of cancellation of a timeshare agreement in accordance with section 5 of the Act in a case where subsection (9) of that section applies shall contain the information set out in schedule 1 to this Order.

(2) Any request in writing, to be given to an offeree under section 7(3) of the Act, following the giving of notice of cancellation of a timeshare credit agreement in accordance with section 6 of the Act shall contain the information set out in schedule 2 to this Order.

Section 1

A description of the cancelled agreement sufficient to identify it.

Section 2

The name and a postal address of the offeror.

Section 3

The name and a postal address of the offeree.

Section 4

The amount of credit received by the offeree under the agreement.

Section 5

The date when the first instalment was due under the agreement.

Section 6

The amount of credit repaid by the offeree before that date or a statement that none of the credit was repaid before that date.

Section 7

The amounts of the remaining instalments (recalculated in accordance with section 7(3) of the Act) which the offeree is required to pay, i.e. excluding any sum other than principal and interest.

Section 8

A precise indication of the dates on which the instalments are due or a statement indicating clearly the manner in which those dates will be determined.

Section 9

A clear and unambiguous statement by the offeror that payment of the amounts of the remaining instalments is demanded on the dates indicated.

Section 1

A description of the cancelled agreement sufficient to identify it.

Section 2

The name and a postal address of the creditor.

Section 3

The name and a postal address of the offeree.

Section 4

The amount of credit received by the offeree under the agreement.

Section 5

The date when the first instalment was due under the agreement.

Section 6

The amount of credit repaid by the offeree before that date or a statement that none of the credit was repaid before that date.

Section 7

The amounts of the remaining instalments (recalculated in accordance with section 7(3) of the Act) which the offeree is required to pay, i.e. excluding any sum other than principal and interest.

Section 8

A precise indication of the dates on which the instalments are due or a statement indicating clearly the manner in which those dates will be determined.

Section 9

A clear and unambiguous statement by the creditor that payment of the amounts of the remaining instalments is demanded on the dates indicated.