EU Implementation

 

National Implementation of the EU Directive

As of September 1999, all EU Member States have finalised the implementation of the EU Directive provisions into their national legislation, although some countries already had timeshare legislation in place prior to the adoption of the EU Directive.

There are some significant differences in the interpretation of the EU Directive by different legislators in the different Member States. The most prominent one has been the interpretation of the prohibition on advance payments during the cooling-off period. Some countries have interpreted it as meaning that only deposits to third party intermediaries such as trustees or escrow agents are allowed but advance payments to the vendor are prohibited.

Below is a summary showing when countries have implemented the Directive, what cooling-off period is mandatory and other major differences to the EU Directive. Note that some of the countries mentioned are not EU countries. 

COUNTRY DATE OF IMPLEMENTATION COOLING-OFF PERIOD & MAJOR DIFFERENCES FROM THE EU TIMESHARE DIRECTIVE
Austria 1st April 1997 14 day cooling-off period; advance payments to third parties under trustee schemes that can be unilaterally recovered in full by the purchaser in the cooling-off period seem to be allowed.
Belgium  1st July 1999 15 day cooling-off period with an extension to one year if the contract does not fulfil the requirements. Ban on advance payments. Scope of 94/47/EC expanded to include timeshare of less than a week and more than two days.
Denmark 15th April 1997 10 day cooling-off period. Advance payments other than to the vendor or granter of credit are allowed. 
Finland  1st March 1998  10 day cooling-off period once both parties have signed. No advance payments allowed to vendor or credit lender. Invitations to sales presentations must clearly state the purpose of the event and the nature and price of what is on sale. 
France  9th July 1998  10 day cooling-off period. The purchaser must send written acceptance to the vendor by registered post for the contract to come into effect. The cooling-off period comes into effect from the day this letter is sent. 
Germany 30th June 2000 - original law implemented 1st January 1997  15 day cooling-off period. Advance payments into third-party security accounts seem to be allowed.  
Greece  25th August 1999  10 day cooling-off period extendable to three months is the information required is not fulfilled. Ban on advance payments. 
Ireland  30th April 1997  10 day cooling-off period. Advanced payments to the vendor or vendor's agent is not allowed. Any person is able to apply to court for an order stopping sales in appropriate cases. 
Italy  12th February 1999 10 day cooling-off period. First party deposits possible outside control of vendor, promoter or marketer. 
Luxembourg  26th January 1999  10 day cooling-off period. Ban on advance payments. 
Netherlands 11th July 1997 10 day cooling-off period. Ban on advance payments. 
Norway  13th June 1997 Although a non-EU country, a similar law to Denmark and Sweden has been passed. Vendor can receive nothing within cooling-off period and nothing at all until adequate security has been established. Security to pay refunds for cancellations are also imposed. 
Portugal 22nd May 1999 10 day cooling-off period. Absolute ban on advance payments. Only 70% of the property in a complex may be operated as timeshare but a hotel in the same complex can account for the other 30%. 
Spain 5th January 1999  10 day cooling-off period. Advance payments to the vendor not allowed. 
Sweden  1st July 1997  10 day cooling-off period. Advance payments to the vendor are not allowed.
United Kingdom  29th April 1997  14 day cooling-off period. Absolute ban on advanced payments. Cancellation notices have to be given to purchasers. Applies to UK residents wherever they buy in the European Economic Area.