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Terms of Reference
On 8 December 2004,
the Parliamentary Joint Committee on Corporations and Financial Services
resolved to inquire into the regulation of the timeshare industry in Australia,
with specific reference to:
- the
effectiveness of the current regulatory arrangements for the timeshare
industry under the Corporations Act
2001, including:
- whether the current regulatory arrangements
are confusing to consumers and inhibit the development of industry;
- whether the current regulatory arrangements
place an undue compliance cost on industry;
- whether the current regulatory arrangements
are effective in protecting consumers of timeshare products.
- advantages
and disadvantages of possible models for reform of the regulatory
arrangements applying to the timeshare industry, including:
- self-regulation
of the industry on a national basis;
- alternatives to coverage under the Corporations Act 2001, either by
separate Commonwealth legislation or state and territory legislation
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