Inquiry into regulation of the timeshare industry
Terms of
reference
On 8 December 2004, the Parliamentary Joint Committee
on Corporations and Financial Services resolved to inquire into the
regulation of the time share industry in Australia, with specific
reference to:
- the effectiveness of the current regulatory
arrangements for the time-share 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 time share products.
- advantages and disadvantages of possible models
for reform of the regulatory arrangements applying to the time share
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.
The
Committee will report on the inquiry by 5 September 2005.
Written submissions are invited and should be addressed to:
The Secretary
Parliamentary Joint Committee on Corporations and Financial Services
Suite SG.64
Parliament House
Canberra ACT 2600
The closing date for submissions has been extended until 25 February 2005.
The
Committee prefers to receive submissions electronically as an attached
document - email:
corporations.joint@aph.gov.au.
Submissions become
Committee documents and are made public only after a decision by the
Committee. Persons making submissions must not release them without the
approval of the Committee. Submissions are covered by parliamentary
privilege but the unauthorised release of them is not.
Following consideration of submissions, the Committee will hold public
hearings. The Committee will consider all submissions and may invite
individuals and organisations to give evidence at the public hearings.
Special access and other arrangements will be made if prior notice is
given.
Information relating to inquiries by parliamentary committees, including
notes to assist in the preparation of submissions for a committee, can be
located on the internet at
http://www.aph.gov.au/senate/committee/wit_sub/index.htm
Inquiries from hearing and speech impaired people should be directed to the Parliament House TTY number (02) 6277 7799. Adobe also provides tools for the blind and visually impaired to access PDF documents. These tools are available at: http://access.adobe.com/. If you require any special arrangements in order to enable you to participate in a committee inquiry, please contact the committee secretary.
For further information, contact
Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
PO Box 6100
Parliament House
Canberra ACT 2600
Australia
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