Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p16
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 16/29)
Character Range: 90010–93178

accommodation. You may choose to obtain your own financing which is subject to fees and costs not disclosed in this table.

           You should read all the information about fees and costs because it is important to understand the costs of your membership.

           Fees and Costs Summary – [insert membership option]

Type of fee or cost1                                                                                                                                                    Amount  How and when paid

Ongoing annual fees and costs (excluding special levies2)

Levies

Fees to cover the budgeted costs of maintaining the property of the time-sharing scheme, managing the scheme and other services

[Insert if relevant] See description below "How annual levies are calculated" for the specific amount payable.

Ongoing membership fee

Fees payable for being a member

[Insert any other annual fees and costs items]

[Insert if relevant] Financing related fees and costs

Annual repayments for financing arrangements

Based on borrowing the maximum portion of the total purchase price available at the maximum interest rate for the maximum loan term in relation to that interest rate.

Ongoing financing costs

The financing costs you have to pay on an ongoing basis in addition to your repayments

[Insert any other finance related fee or costs items]

Member activity related fees and costs3

Accommodation usage fees4

Fees payable to use accommodation

Forfeiture fee5

Fees payable if the responsible entity forfeits your timeshare

Transfer fee

Fees payable to transfer your membership

[Insert if relevant]

PAYG purchase fee

Fees payable when you purchase PAYG points

[Insert any other fee or cost items]

              1 It is important to understand that a failure to pay an amount owing (such as levies or financing costs) may result in you losing your membership, by forfeiting your interest in the scheme. You may not receive anything for the forfeited interest if this happens.

              2 Special levies may also be payable in certain circumstances. For further information, refer to the Additional Explanation of Fees and Costs at [insert page(s)].

              3 One-off fees and costs may also be payable in certain circumstances—for example, if your timeshare is forfeited or transferred. [If there are other fees and costs, such as direct debit dishonour fees, include these.] For further information, refer to the Additional Explanation of Fees and Costs at [insert page(s)].

              4 [Insert a description of the accommodation usage fees] For further information, refer to the Additional Explanation of Fees and Costs at [insert page(s)].

              5 Refer to section [insert section reference] of the Product Disclosure Statement for details of the circumstances where the responsible entity can forfeit a membership.

      [Insert if relevant] How annual levies are calculated

           [Insert if relevant] Annual levies

Membership option  Amount  How levies are calculated

           Division 4—How to fill in the Fees and Costs Summary

           211 If there are no levies