§ Mr. Michael Cocksasked the Secretary of State for Trade and Industry (1) if he will introduce legislation to ensure that those who agree to buy timeshare properties are given a limited period of reflection during which they may change their mind and retrieve any money placed with the developers as a deposit; and if he will make a statement;
(2) if he will initiate and publish a code of practice to be observed by firms selling timeshare properties; and if he will make a statement;
(3) when he expects his Department's consumer advice leaflet on timeshare properties to he published; what type of advice or information it will contain with particular regard to standards to be observed in approaches to potential customers; and if he will make a statement.
§ Mr. HowardAs I said in my reply to my hon. Friend the Member for Amber Valley (Mr. Oppenheim) on 3 December 1986, at column 634, I do not at present intend to introduce legislation on time share. There are three trade associations covering most United Kingdom developers and members of these associations voluntarily provide cooling-off periods during which customers may have an opportunity to. reconsider their purchase. I welcome this and I do not feel that a code of practice would materially add to the protection offered b) this arrangement. I also believe that it is important that people are fully aware of the facts when they are considering purchasing time share. With this object my Department will be publishing a consumer advice leaflet on time sharing on 27 January. It is aimed at the potential time share buyer and provides advice and a checklist of items to bear in mind.