Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p15
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 15/29)
Character Range: 87251–90252

related to obtaining finance including any establishment fee, finance application fee and other fees payable in relation to the financing arrangement; and

                     (b) in column 4 subcolumn 2—the sum of the amounts in column 3 and column 4, subcolumn 1.

              209 Accommodation example—points-based programs

                  (1) An accommodation example must be included for points-based programs.

                  (2) For an allocation points-based program, the accommodation example used must be the accommodation choice and week during the high season that was in the highest demand for members of the most common membership option in the 12-month period before the date of the Product Disclosure Statement.

                  (3) For a PAYG points-based program, the accommodation example used must be the accommodation choice and week during the high season that was in the highest demand for members of the PAYG points-program in the 12-month period before the date of the Product Disclosure Statement.

                  (4) If, at the date of the Product Disclosure Statement, no interests have been issued or sold to persons that are not associated with the responsible entity, the membership option must represent the membership option which the responsible entity reasonably believes will be the most common, and use an accommodation choice the responsible entity reasonably believes that members would typically choose.

           Division 3—The Fees and Costs Summary

           210 Fees and Costs Summary

         Fees and other costs

           As well as the cost of buying a membership in a registered time-sharing scheme, all members must pay levies and other ongoing fees and costs. You have to pay fees and costs even if you do not use your membership.

           The table shows fees and costs that you may be charged for [insert membership option] which is the membership option held by the greatest number of members. Taxes are set out in another part of this document.

           [Insert if relevant] Note: The cost of buying PAYG points needed to secure accommodation under the scheme is a separate cost and is not included in this table. The cost of PAYG points is shown at [insert cross-reference to Purchase Price and Upfront Fees and Costs Summary].

           Some fees and costs such as transfer fees and forfeiture fees may be charged if these circumstances arise.

           [Insert if relevant] The table includes the financing costs if you choose to enter into a financing arrangement facilitated by the responsible entity. The exact amount of financing costs will depend on your particular circumstances and will be disclosed separately by the person providing the financial 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