Page 132 - TRC Program Overview 2017

132
Guidelines
& Regulations
1. DEFINITIONS & INTERPRETATION
“Annual Club Levy” is the financial contribution each Owner makes to the Club
operations and the upkeep, maintenance and repair of the resort properties. The Annual Club Levy is prorated during the first year of Ownership and is due on January 1st of each year thereafter.
“Club” means the managed investment scheme known as WorldMark South Pacific Club constituted by deed dated 1 March 2000.
“Daily Vacation Credit Values” is a separate printed document constituting part
of these Guidelines and Regulations. This document is the schedule of how many Vacation Credits are required for staying in each Club apartment on a daily, weekly and seasonal basis and a schedule of the seasons assigned to each apartment. “Red” is for the high demand period, “White” is for the mid demand period and “Blue” is for the low demand period.
“Eligible Credits” are Premier Vacation Credits that were purchased on or before 30 April 2010; and Premier Vacation Credits purchased on or after 1 May 2010 that are qualified by the Developer for use in the Privileges by Wyndham program.
“Eligible Owners” are those Premier Owners who own Eligible Credits.
“Exotic Resorts” means WorldMark South Pacific Club Resorts that are so designated by the Developer, from time to time and at the Developer’s sole unfettered discretion, currently being Wyndham Vacation Resorts Asia Pacific Denarau Island, Fiji.
“Guest” includes an invitee of an Owner, whether relative, friend, associate or other person, either staying with or visiting the Owner or staying with the Owner’s permission, and shall also include an invitee of the Club.
“High Demand Dates” are those dates as determined by the Responsible Entity from time to time as having very high occupancy and typically include gazetted public holidays and school holidays. Please refer to Annexure “A” for a table of current High Demand Dates.
“Nominated Person” means the person who is authorised to make and cancel holiday reservations, where the Owner is a body corporate or where the Ownership comprises more than two natural persons. Where relevant, reference to ‘Owner’ in these Guidelines and Regulations would be a reference to the Nominated Person of the said Owner(s).
“Occupant” means a person occupying Club property for any period of time and any derivations thereof shall have a corresponding meaning.
“Owner”, “WorldMark Owner”, or “Club Owner” means any person who is issued
with Vacation Credits and has an Ownership in the Club as an individual or jointly with any other person. All Owners are subject to these Guidelines and Regulations. Being a family member of an Owner, or living in the same residence as an Owner, does not result in any Owner’s rights being available to that person and any Club use or exercise of any Club privileges and benefits are subject to these Guidelines and Regulations.
“Owner Services Consultant” means a Club representative employed to process Owner holiday booking requirements.
“Ownership” means ownership in the Club conferred upon an Owner or Club Owner by virtue of the Premier Owner Vacation Credits or Standard Owner Vacation Credits held (as applicable).
“Premier Owner Vacation Credits” are Vacation Credits that exist for the life of the Club and that include the use of Bonus Time as well as all present and future Apartments. The usage value of these Vacation Credits renews annually on the first day of the anniversary month of their purchase. These Vacation Credits are transferable, subject to the terms of the Club Constitution.
“Red Season” means the period during which demand is high as specified in the Daily Vacation Credit Values.
“Resort Manager” means the Responsible Entity and its representatives who are responsible for the management of the Resorts.
“Resort Regulations” means those regulations governing the use of resorts not managed or operated by the Resort Manager.
“Responsible Entity” means the responsible entity for the time being of the Club who, at the date of this Deed, is Wyndham Vacation Resorts South Pacific Limited
ACN 090 503 923, AFSL No 225200.
“Standard Owner Vacation Credits” are Vacation Credits that have a 40 year life
and do not include the use of Bonus Time, and usage is limited to those Apartments that are in the Club system at the time the Owner of the Standard Vacation Credits was issued with the Standard Owner Vacation Credits. The usage value of these
Vacation Credits renews annually on the first day of the anniversary month of their purchase. The usage value of these Vacation Credits is transferable, subject to the terms of the Club Constitution.
“Vacation Credits Available” are the total number of Vacation Credits available for use in an Owner’s account, whether saved or borrowed.
“Vacation Credits Owned” are the total number of Vacation Credits purchased which are renewed annually.
“Weekend Only Reservation” is a two-night Friday and Saturday reservation. Any other combination of days shall not be considered a Weekend Only Reservation.
All prices quoted in these Guidelines and Regulations are inclusive of any applicable Australian Goods and Services Tax (“GST”) unless otherwise stated.
2. RESORT REGULATIONS
Where the Club owns apartments in a timeshare or other resort, which is not
operated by the Resort Manager, the Resort Regulations of that timeshare or other resort insofar as they relate to the use of the resort, shall have precedence over these Regulations and all Owners must, to the extent applicable, comply with those Resort Regulations.
3. ADMINISTRATION 3.1 Nominated Person
If the Ownership comprises more than two natural persons, or the Owner is
a body corporate, the Owner(s) must designate a Nominated Person. The Nominated Person is the only person authorised to make and cancel holiday reservations. The Owner(s) are however bound by and are responsible for, the actions of the Nominated Person. Where relevant, reference to ‘Owner’ in these Guidelines and Regulations would be a reference to the Nominated Person of the said Owner(s).
3.2 Transfers of Ownership
An Ownership can be transferred by way of sale, gift or intestate disposition.
The approval of any transfer is at the sole discretion of the Responsible Entity and must comply with the Responsible Entity’s Transfer of Ownership Policy, as amended from time to time. An Owner (or potential Owner) must provide any information reasonably required by the Responsible Entity to assist it in making a determination of whether to approve the transfer of Ownership.
3.3 Maintenance Period
The Club shall reserve 7 nights and days, not necessarily consecutive, during
each calendar year as a maintenance period for each apartment during which period the Club shall maintain, refurbish and repair the apartment as necessary. The Club shall determine from time to time which days and nights will constitute the maintenance period for each apartment. No reservations for an apartment shall be accepted during this maintenance period.
3.4 Amendments
The Responsible Entity may amend these Guidelines and Regulations from time
to time in accordance with the Constitution. This may include the amendment of any fees or hours of operation listed in these Guidelines and Regulations.
3.5 Violations
(a)
(b)
Failure to abide by these Guidelines and Regulations, other governing documents of the Club, or any individual Resort Regulations may result in either one or more of the following:
(i) temporary or permanent suspension of the defaulting Owner’s rights and privileges including, but not limited to, the temporary or permanent suspension of current or future bookings at one or more Club Resort or Club Apartment by the Owner, Guest or invitee. Where an Ownership is held by more than one Owner, the suspension can be applied to one or more Owners; and/or
(ii) immediate cancellation of any current or existing booking at a Club Resort or Club Apartment.
Any Owner whose rights and privileges are suspended either temporarily or permanently is prohibited from visiting or staying at any Club Resort or Club Apartment during the period of their suspension.
3.6 Discipline
The Constitution includes the power for the Club to terminate occupancy at the
Resorts for violation of the Guidelines and Regulations, the Constitution, other Club governing documents, or the Resort Regulations.
These Guidelines and Regulations are
the official Club operating rules and are
in existence to facilitate a smooth and professional Club operation for the benefit of Owners of WorldMark South Pacific Club.
Please note: These Guidelines and Regulations are subject to change from time to time. Please visit www.worldmarksp.com for the most recent copy.
GUIDELINES & REGULATIONS