Whilst Lakeview timeshare owners were being subjected to the hype of a mass timeshare presentation the cheeks of Mr froggy Lamont must have been tweaking as he was in full knowledge that his empire was under attack again and by the The National Consumer Commission. The commission contends that consumers have been misled into believing that points are timeshare, which in their view the certificates were “worthless piece of paper”.
The commission contends the club is a sham and exists purely to justify the collection of membership fees.
“All the consumer has is a false belief that he/she owns ‘valuable points’.
“The entry point of the funds into the entire Club Leisure Group is the sale of ‘points’ to consumers. It is these ‘points’ that the applicant has been advised by the respondents that they are timeshare, which the applicant has found is deceitful nonsense”.
The commission go on to describe The National Consumer Commission says the selling of points as timeshare is a scam, and wants certain of the practices of companies and clubs in its fold declared in terms of the Consumer Protection Act.
Stuart Lamont, named as a directors of Club Leisure Group and several other companies that are respondents in the case.
Stuart Lamont the bullfrog (froggy to his friends) was a participant in yesterdays Lakeview whitewash alongside FNTC, RCI and other. All in attendance to support Harry Taylors election.
Below you will find the Flexi club disclosure document.
Se TESS Article breaking news here
DISCLOSURE DOCUMENT
Please read this document carefully. It contains information we are required by law to give you. If there is any difference between this information and any other information provided to you about Flexi Holiday Club Limited, whether written or verbal, this information will prevail. If you have any questions about this document then please do not hesitate to speak to a member of our staff. This document will form part of any Application for Membership and Purchase/Conversion Agreement
The Flexi Holiday Club Scheme (“the Scheme”) is a multi destination holiday scheme providing holiday accommodation to its Members at various resorts worldwide.
The Scheme uses a resort grading system based on points to value the intervals of accommodation available to Members.
Members are entitled to use the points they have acquired to holiday (subject to availability) at any of the accommodation available to the Scheme.
It is the policy of the Scheme to continue to acquire an inventory of high quality accommodation at the most sought after and new resort locations during demand times of the year in order to adequately satisfy Member’s requests.
The size of the scheme will grow as more accommodation is introduced and more Members join the Scheme.
FLEXI HOLIDAY CLUB LIMITED
The Scheme is based upon an English Company, Flexi Holiday Club Limited, a company limited by guarantee and registered in England, Registration No. 2928076, registered office at: Elm Gables, Westerham Road, Keston, Kent, BR2 6HH (the Club). On joining the Scheme you will become a Member of the Club.
The Club, which does not have shares and does not trade, has the beneficial interest in the exclusive right of use of the accommodation and vacation assets for the benefit of its Members.
DEVELOPER COMPANY
The Founder Member and Intellectual Property Owner of the Scheme is Flexi Club Holdings Limited, a BVI company, company number 93416, whose registered office is at Craigmuir Chambers, P O Box 71, Road Town, Tortola, British Virgin Islands.
Flexi Club Holdings Limited has licensed Developer Companies to introduce accommodation into the Scheme and to receive points rights for accommodation introduced. The licensed Developer Companies market and sell their Points Rights acquired to members of the public, sometimes through a Vendor Company. When contracting with members of the public, Developer Companies act as principals and not agents.
Flexi Club Holdings Limited will continue to license Developer Companies in order to expand the Scheme.
The name and address of the Developer Company with whom you contract to apply for membership of the Club and to acquire Points Rights, is reflected on the Application for Membership and Purchase/Conversion Agreement.
MEMBERSHIP AND RIGHTS ACQUIRED
To become a member of the Club you are required to apply for membership of the Club and to acquire Points Rights in the Scheme.
As a Member of the Club you will be required to guarantee the Club’s liabilities only up to the fixed amount of one pound sterling.
The Memorandum and Articles of Association together with the Scheme Regulations describe in detail how the Scheme is operated.
The Club is the Member’s forum, and Members are entitled to attend the Annual General Meeting of the Club and to speak and vote thereat.
The Club is administered in the best interests of the Members by a Board of five Directors, three of whom, are elected by the ordinary Club members at the Annual General Meeting.
Points Rights acquired by Members entitle Members to an annual allocation of points that are used to exchange for the right of use of accommodation available to Members in the Scheme from time to time.
Membership of the Club and individual Members Points Rights are subject to the obligations as set out in the Articles of Association and the Scheme Regulations.
Members of the Club are automatically granted full membership of Flexi Holiday Club South Africa.
Members Points Rights will endure for the period as set out in their Application for Membership and Purchase/Conversion Agreement and membership of the Club will automatically expire once they no longer own Points Rights.
There is no resale program in place or operated by the Club, the Founder Member, the Developer Company and or the Intellectual Property Owner.
Individual Members of the Club may, subject to the consent of the Intellectual Property Owner, bring into the Scheme’s pool of accommodation, their existing timeshare accommodation, in exchange for Points Rights in the Scheme.
RIGHT TO CANCEL
You can, for any reason, cancel the Purchase Agreement by sending a completed Cancellation Notice to the address shown in the Notice within 14 days without any financial penalty. Details of this will be given to you with the Application for Membership and Purchase/Conversion Agreement form. Similarly, if you have entered into a contract to provide you with credit to buy your Points Rights, this will also be cancelled without penalty.
No advance payments can be accepted or required within 14 days of the acceptance of the membership application and all payments in respect of the Application for Membership and Purchase/Conversion Agreement should be made to First National Trust Company Limited, International House, Castle Hill, Victoria Road, Douglas, Isle of Man, IM24 RB. (the Escrow Agent)
SCHEME ACCOMMODATION
Details of the Scheme inventory of accommodation is set out in the Scheme Accommodation Schedule attached.
Members have access to a central reservations system operated by the Club Leisure Group of South Africa, enabling members to the full right of use and access to over 40 000 timeshare weeks, including the advantage of international timeshare exchange available to Members of the Clubs/Associations within the Club Leisure Group.
The Flexi Holiday Club Vacation Guide indicates the number of points applicable to each timeshare week. Flexi Club Holdings Limited will periodically review the “Resort Rating and Demand” and “Time Period Priority” and may alter the points applicable to certain timeshare weeks.
The accommodation comprises timeshare weeks at various resorts worldwide.
THE RESORTS, FACILITIES AND SERVICES
Details of the facilities and services available at the resorts within the Scheme inventory of accommodation are listed in the Scheme Accommodation Schedule.
Certain Resorts may charge a refundable breakage deposit and certain Resorts may charge for some of the facilities and services available to Members. These charges levied by certain Resorts are subject to change from time to time, and Members are advised to enquire at the time of making a reservation as to what charges and payments will be applicable at the Resort concerned.
The Management of the Resorts in which the Scheme has accommodation is, in most cases, under the control of the Manager or Owners Club of the individual Resort. The services and facilities are determined by the management of the Resort and the information contained in the Scheme Accommodation Schedule is therefore subject to change.
The information contained in the Scheme Accommodation Schedule is compiled from information obtained from the management of the particular Resort concerned and the accuracy of this information is therefore subject to that.
The maintenance and repair of the Scheme Accommodation is the responsibility of the Resort in which the accommodation is located. To cover these costs, maintenance fees due on the Scheme Accommodation, are paid annually by the Management Company to the Resort where this accommodation exists. The Club has no direct control over the management, administration and maintenance of the Resorts or the Scheme accommodation therein.
FINANCIAL PROTECTION AND INVENTORY CONTROL
Title to the Scheme accommodation and vacation assets are held on behalf of the Members by Flexi Property Holdings Limited (the Property Company), a BVI company, Company No. 93395, whose registered office is Craigmuir Chambers, P O Box 71, Road Town, Tortola, British Virgin Islands.
Flexi Property Holdings Limited is a wholly owned subsidiary of the Trustee, Riverdale Limited, Company No. 14991, whose registered office is Mignot Plateau, Cornet Street, St Peter Port, Guernsey, GY1 4EG, Channel Islands and the Members are protected under the terms of a Deed of Trust dated 19th August 1993
FNTC will as part of their responsibilities maintain physical possession of all the ownership certificates of accommodation vested in the Property Company and will also be responsible for the issue of all Membership certificates.
For the protection of Members FNTC will operate an escrow arrangement whereby all monies paid for Points Rights and Membership of the Club will be held by FNTC on trust. The monies will not be released until FNTC is satisfied that there is sufficient unencumbered accommodation within the Scheme to match the number of points sold to Members plus a prudent positive balance (determined by the Trustee).
MANAGEMENT AND ADMINISTRATION
Leisure Management Overseas Limited (the Management Company) has been appointed to manage and administer the scheme and to provide a reservations service to Members of the Club. Leisure Management Overseas Limited is incorporated in the Isle of Guernsey, Company No 205125, whose registered office is at Mignot Plateau, Cornet Street, St Peter Port, Guernsey, Channel Islands GY14EG.
FEES PAYABLE BY THE MEMBER
There are two elements to the annual fees payable by Members to the Club: the Club Subscription fee and the User Charge fee.
The Subscription Fee is a fee determined from year to year by the Management Company, in terms of the Management Agreement, to meet all the operating expenses of the Club, including, but without limiting the generality thereof, the costs of management fees, trustees fees, printing and stationery, postage, telephones, telefaxes, rental, salaries and wages, royalties, advertising, insurance, travelling, professional fees, interest, office equipment, and a contribution to the costs of operating the exchange and reservations system.
The User Charge is to cover the costs attributable to the Scheme Accommodation available for use by Members. User Charges are paid provisionally in advance and, depending on the extent of a Members use of the Scheme accommodation, topped up during the year.
Prior to the end of each financial year, the Management Company shall estimate the expenditure for the ensuing year, which shall include but not be limited to maintenance fees, payable on all Scheme Accommodation.
The amount required to meet the anticipated expenditure shall then be calculated as a percentage of the total value of all members points, reckoned at one pound sterling per point. This percentage is known as the Provisional User Charge Percentage.
At the beginning of each year, individual members will be required to pay a Provisional User Charge, to the Management Company. The Provisional User Charge will be calculated by the Management Company applying the Provisional User Charge Percentage to the number of points owned by each individual Member reckoned at the value of one pound sterling per point. The Provisional User Charge payable by Members is however limited to a maximum amount determined by the Board from time to time.
The Provisional User Charge payment is due by Members on or before 1 January each year, and will be credited to the Members User Charge Account.
On confirming a reservation the Management Company will debit the Members User Charge Account with the User Charge applicable to the accommodation the Member intends occupying.
In the event of the User Charge for a Member’s reservation exceeding the amount standing to the credit of the Members User Charge Account then the Member shall be obliged to pay an additional amount to cover the shortfall prior to the reservations for such accommodation being confirmed.
Members who have a credit balance on their User Charge Account at the end of any calendar year, may accumulate that credit balance for a further period of 24 months. Should the User
Charge credit so accumulated, not be used within that period, such credit shall be forfeited by the Member.
Special Levy – It may be necessary for the Management Company to require Members to provide money to cover unexpected charges imposed by Resorts in the Scheme as a Special Levy.
This is unlikely to affect Members’ charges significantly as it will be spread across the whole Club Membership.
Non or part payment of Clubs Subscriptions, User Charges or any charges outstanding, or failure to abide by the Club’s Regulations and/or Articles of Association may result in the loss of occupancy rights to the Scheme Accommodation and ultimately the repossession of a Member’s Points Rights and the cancellation of Membership.
Becoming a Member of the Club will not involve any costs, charges and obligations other than those referred to in this document or in the Application for Membership and Purchase/Conversion Agreement.
RESERVATIONS AND EXCHANGES
The Club’s Articles of Association and Regulations set out in detail how the Club Reservations system operates. Each new Member when purchasing Points Rights and applying for Membership receives a copy of these documents.
Member’s requests for the use of Scheme Accommodation are granted and confirmed by the Management Company who have appointed the Club Leisure Group of South Africa, who operate a Central Reservations system, to attend to all Members’ reservation requests and bookings. The use of the Scheme Accommodation is granted on a first-come-first-served basis.
Member’s bookings for Scheme accommodation may be made not more than twelve months, and not less than 60 days (other than under any late break scheme), prior to the start date of the accommodation requested.
Members are entitled to cancel a confirmed reservation within 4 (four) weeks prior to occupation without the loss of Points Rights.
On confirmation of a booking Members are required to pay the balance of the User Charge for the Scheme Accommodation reserved.
Any unused Member’s Points Rights may be carried forward for 36 (thirty six) months after which they will lapse and be forfeited. Members with the consent of the Management Company are entitled to use in advance up to 25% (twenty five percent) of the Points Rights to be allocated in the following year.
All Members of the Club are automatically Members of Flexi Holiday Club South Africa, which in turn is a Member of the Club Leisure Group (“CLG”). CLG has contracted with international timeshare exchange organizations and resorts in order to provide its Members with worldwide resort accommodation exchange facilities.
All exchanges are subject to space availability and the ability of CLG to confirm exchange requests for members is limited to and dependent on accommodation being available from the exchange organizations.
Neither the Club, nor CLG, nor any sales personnel may represent that specific resort choices, holiday dates, and or travel arrangements can be guaranteed through the CLG exchange program and the exchange opportunity offered should not be the primary reason for the Application for Membership.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk