Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p23
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 23/29)
Character Range: 112342–115594

one program are offered under the Product Disclosure Statement (for example an allocation points-based program and a PAYG points-based program), the Product Disclosure Statement must contain a Cost of Product Information for each program.

                  (3) The Cost of Product Information is not required to be included in a Product Disclosure Statement if only one membership option is available under the Product Disclosure Statement and that membership option is included in the Product Disclosure Statement in the Example of Annual Fees and Costs in accordance with Division 5.

             Division 7A – Consumer Advisory Warning

           228 Consumer Advisory Warning

            Did you know?
            Fees and costs can have a substantial impact on your ability to use your membership.
            You should consider whether you can afford any ongoing fees and costs before becoming a Member to make sure you can afford to use your timeshare membership.
            Fees [insert as applicable are/are not] negotiable.
            TO FIND OUT MORE
            If you would like to find out more, refer to the Australian Securities and Investments Commission (ASIC) website (www.moneysmart.gov.au).

           229 Where to place the Consumer Advisory Warning

              The Consumer Advisory Warning must be located at the beginning of the fees section of the Product Disclosure Statement.

           Division 8 — Additional Explanation of Fees and Costs

             230 Matters to be included

              The following information must be included under the heading "Additional Explanation of Fees and Costs" if it is relevant to the interests in the scheme offered under the Product Disclosure Statement:

                  Levies

                  (a) information about annual, special and any other kind of levies, including:

                     (i) the types of costs and expenses covered by each type of levy;

                     (ii) any interest or fees charged for late payment of levies;

                     (iii) what happens when a member does not pay levies by the due date;

                     (iv) when annual levies will be invoiced;

                     (v) if a special or other levy is proposed or reasonably anticipated to be charged in the future—an explanation of the purpose of the levy and the key assumptions underlying the purpose, and the anticipated or proposed date of invoicing;

                     (vi) a description of the circumstances in which any special and other levies can be charged, and how they would be calculated;

                     (vii) the total amount of all levies other than annual levies, invoiced for each year of the 3-year period before the date of the Product Disclosure Statement, with an explanation of their purpose;

                     (viii) if applicable, a statement about the responsible entity's power to vary levies; and

                     (ix) how to obtain a copy of the scheme's annual budget;

              Suspension and forfeiture for non-payment

                  (b) information about suspension and forfeiture of a membership interest due to failure to pay levies or failure to pay other fees or