Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p3
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 3/29)
Character Range: 53769–56872

email: [responsible entity's email address];
         * fax: [responsible entity's fax number]; or
         * post: [responsible entity's postal address].
    Remember to cancel your loan application: If you have already signed an application with an 'offer to borrow' and you exercise your cooling-off right, you also need to notify the lender that you want to withdraw your offer.  You should do this as quickly as possible. If you do not, and the lender accepts your offer, you may have a binding loan contract and may not be able to cancel.

    Acknowledgment
    I/We ..................................................
    acknowledge receipt of this cooling-off statement, the application form, the Product Disclosure Statement and any loose-leaf price list.
    Signature(s): ...................................
    Date: ..................................................

    ---------------------------------------------------------------------------------------------------------

    WRITTEN NOTICE OF EXERCISE OF MY/OUR COOLING-OFF RIGHTS
    To: [insert name and address of responsible entity]

    I/We, [insert name(s)] hereby exercise my cooling-off rights and withdraw from my proposed purchase of interest(s) in the time-sharing scheme known as [insert name of scheme]. Please return all money I/We have paid by way of deposit or otherwise as soon as possible by (please tick or circle one):

         * credit card (money paid by credit card will only be refunded to that card); or

         * direct deposit to the bank account details below:

BSB:
Account number:
Account name:

Consumer 1
Signature:
Name:
Date:

Consumer 2 (if applicable)
Signature:
Name:
Date:

    Footnotes
    1 Here the responsible entity should insert the number of days of the cooling-off period. That number of days must be:
          (a)                 not less than seven days where the responsible entity is a member of the Australian Timeshare and Holiday Ownership Council ATHOC) or another industry supervisory body for the time-sharing line industry approved by ASIC; and
          (b)                 not less than 14 days in all other cases.

             (2)     The statement set out below is the subject to finance notice referred to in paragraph 912AJ(3)(d).

Timeshare cancellation: 'Subject to finance' notice

You can cancel your application for a timeshare if it is 'subject to finance'
 – that is, if you are using a loan from a finance company to buy the timeshare –
even if the cooling-off period has already ended.
You can cancel your timeshare application if you:
    * have failed to obtain finance (e.g. the lender has advised you did not get a loan);
    * decide not to go ahead with the loan application and have withdrawn the application or any 'offer to borrow' that you have already signed; or
    * have been offered a loan but have decided not to accept the loan.
To cancel the timeshare application: complete the form attached to this statement and send a copy to [responsible entity]. Their details are on the form.
Remember to cancel your loan application: If you