§ Mr. PickthallTo ask the President of the Board of Trade what action he has taken on the Office of Fair Trading report on timeshare of June 1990; and if he proposes to press for EC regulations on the subject.
§ Mr. McLoughlinThe Timeshare Act 1992 provides a mandatory cooling-off period for timeshare contracts entered into in the United Kingdom or under United Kingdom law.
The United Kingdom Government consider that regulation at Community level is also required. The EC Commission submitted a draft timeshare directive to the Council of Ministers in July 1992. Negotiation of the draft directive is continuing and a common position is hoped for in the near future.