CP 272 Remaking ASIC class orders on time-sharing schemes
Released 17 November 2016. Comments close 12 January 2017.
This consultation paper sets out ASIC’s proposals to remake our class orders on time-sharing schemes. Under the Legislation Act 2003, these class orders will expire (‘sunset’) if not remade.
We are seeking feedback from the time-sharing industry, consumers and consumer advocates (including whether any additional consumer protections are needed), and other interested parties on our proposals to:
- remake, as a single new instrument, our class orders relating to time-sharing schemes—[CO 00/2460], [CO 02/315] and [CO 03/104]; and
- change our approach to, or amend, [CO 02/237], related pro formas (PF 205, PF 206, PF 207, PF 208 and PF 209), [CO 13/760], the enhanced fee disclosure requirements and our guidance in Regulatory Guide 160 Time-sharing schemes (RG 160).
Our proposals relate to relief and obligations in relation to the managed investment, Australian financial services (AFS) licensing and product disclosure provisions of the Corporations Act 2001.
- Consultation Paper 272
- Attachment 1 to CP 272
- Attachment 2 to CP 272
- Attachment 3 to CP 272
- Attachment 4 to CP 272
- Attachment 5 to CP 272
- Australian Timeshare and Holiday Ownership Council (PDF 367 KB)
- Consumer Action Law Centre and Financial Rights Legal Centre (PDF 429 KB)
- Crowe Horwath (PDF 193 KB)
- Choice (PDF 2.2 MB)
- Credit and Investments Ombudsman (PDF 68 KB)
- Financial Ombudsman Service Australia (PDF 196 KB)
- Legal Aid NSW (PDF 124 KB)
- Queensland Consumers’ Association (PDF 47 KB)