Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p18
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 18/29)
Character Range: 95823–98844

under that heading.

           214 If there is a financing arrangement

              If there is a financing arrangement offered, the amounts shown in the "Amounts" column in relation to financing fees and costs must be calculated on the basis of:

                     (a) borrowing the maximum portion of the total purchase price available;

                     (b) the maximum interest rate (where there is a range);

                     (c) the maximum loan term in relation to the interest rate specified in paragraph (b).

           215 Accommodation Usage Fee

              The accommodation usage fee is the amount the responsible entity knows or ought reasonably to know will be incurred:

                     (a) for points-based programs—based on the assumption that the member is a member of the most popular membership option and fully utilises all their points or purchases PAYG points to book at the most popular accommodation option in high season making bookings for at least one period during high season; and

                     (b) for an interval program—based on the most expensive interval.

           216 Column 3 – How and when fees and costs are paid

                  Column 3 of the Fees and Costs Summary table must set out:

                     (a) how the amount is or will be incurred by a member; and

                     (b) when and how regularly the amounts will be incurred by a member.

             217 Other material to be included in the summary—fees that are negotiable

                  (1)          The Fees and Costs Summary table must clearly indicate which fees are negotiable (for example, by stating in column 3 "The amount of this fee can be negotiated.").

                  (2)          An indication that a fee or cost is negotiable must be cross-referenced to an explanation in the "Additional Explanation of Fees and Costs" part of the fees section of the Product Disclosure Statement.

           Division 5 – Example of Annual Fees and Costs

           218 Example of Annual Fees and Costs

           Example of annual fees and costs

           [Insert for an allocation and PAYG points-based programs] This table gives an example of the annual fees and costs if you hold and use a [insert membership option] over a 1-year period. You should use this table to compare this product with other time-sharing schemes.

           [Insert for an interval-based scheme] This table shows how much you could be paying if you use a membership to provide a week of accommodation—with and without the option of finance. You should use this table to compare this product with other time-sharing schemes.

           The table below is only an example and does not reflect the actual costs you will have to pay each year. The example does not take into account any increase in levies or increases in other ongoing costs that may occur. The responsible entity can increase the cost of levies by [insert percentage amount and timeframe].