Protection of purchasers of the right to use immovable properties on a timeshare basis (direct. 94/47/EC)

The committee unanimously adopted the own-initiative report by Manuel MEDINA ORTEGA (PES, E) on the implementation of Directive 94/47/EEC on the protection of purchasers of timeshare properties. It pointed out that one of the reasons for the many problems experienced by consumers with regard to timeshare property contracts was that the 1994 directive was a 'minimalist' one, allowing Member States considerable latitude in enacting the directive. The committee therefore called on the Commission to study in detail the problems raised by the transposition of this directive and to propose new legislation and administrative measures, with 'unified regulation' of timesharing in the EU as the goal. Meanwhile, immediate action should be taken where possible under the current legislation. The report also made detailed recommendations as to what should be included in the new legislation. It suggested, for example, that withdrawal periods for purchasers should be made as long as possible without jeopardising promoters' legal security. Cancellation rules should be standardised, with a one-year time-limit. A right of cancellation which can be exercised after 15 or 20 years should also be considered, as well as a requirement that any individual or company in breach of the regulations should be subject to a substantial fine as well as the payment of compensation to the consumer. Finally, the committee believed an EU-wide publicity and information campaign was needed to inform the public about the issues associated with timeshare properties.�