HOLIDAY CLUB - STANDARD TERMS AND CONDITIONS OF PURCHASE
terms and conditions are binding and enforceable on you, the Member.
purchase of Points constitutes and establishes membership of the
Association entitling and imposing on you,
as holder of
and for as long as you hold Points, the rights and obligations set
out in the Constitution.
Membership of the Association will commence on the date that your
name is entered into the Points Register and shall endure for a
period as determined by your Purchase Agreement.
there be any discrepancies between this document and your Credit
Finance Agreement, your original document take precedence.
Allocation of Points
2.1 You are
entitled to receive your allocation of purchased Points for your
first year of membership by completing and
the attached Remittance Advice Slip Authorisation (together with
payment of the Membership, Reservation and iExchange enrolment fees
for the current year) to The Holiday Club.
you elect not to exercise the above entitlement, then although your
membership will have commenced immediately, you will receive your
first allocation of Points on your first Anniversary Date and,
provided you are up to date with all your obligations to The Holiday
Club, only then will you be able to transact.
applicable) Should you wish to be allocated your Accerent Points in
your first year of membership, then you may request their allocation:
you activate your purchased Points at the same time (see Clause 1.4
you provide proof that your levy obligations with your Resort are
paid in full,
your timeshare has more than 16 weeks to occupation, and
the Club is actually able to use the timeshare that year.
applicable) For as long as you remain a Member of the Club in good
stead and comply with the Accerent terms set out in Clause 6, your
Accerent Points will be allocated to you annually.
You will, as
long as you comply with the terms of this Purchase Agreement, the
Constitution, and any terms of finance, be entitled to:
Membership of the Association (the Club);
Rights entitling you to an annual allocation of your Points; and
Rights in the Accommodation in accordance with the Constitution and
with the provisions of this Purchase Agreement, and any terms of
with the provisions of the Constitution and the Rules;
with all rules imposed by the Resort in which you exercise Occupancy
and Reservation Fees
Membership and Reservation Fees for each year of membership are due
and payable in advance by no later than the first day of the month
immediately preceding your Anniversary Date in respect of that year
acknowledge that annual Membership and Reservation Fees are raised by
the Association in terms of the Constitution and are to cover the
costs of operating the Club, including but not limited to the payment
of maintenance levies at Resorts in which Club holds Accommodation
and for management of the Club's reservation system.
further acknowledge and agree that the Membership and Reservation
Fees is a debt due to the Association, which may be recovered in
terms hereof, and/or the Constitution.
amount outstanding by you to the Association will attract interest
and/or penalty charges at such rate as the
may determine from time to time. A certificate signed by any member
of the Executive Committee, whose
not be proved, will be proof of your indebtedness.
6.1 You agree
that in exchange for the allocation of Accerent Points, you
exclusively cede and assign to the Club, your right to use to the
timeshare set out in Schedule 4 to the Purchase Agreement.
6.2 You will
retain ownership of your timeshare, but for the corresponding period
of your membership of the Club, you will
Club the exclusive use of your timeshare.
6.3 You will
be required to pay your levies directly to your Resort and to provide
proof of payment to the Club no less than 16 weeks prior to the date
you not prove payment of your levies in time, then the Club reserves
the right (but will not be obliged) to pay the levies on your behalf
and to use the timeshare. You will only then be allocated your
Accerent Points once you have
Club the levy amount paid on your behalf.
you not wish the Club to use your timeshare in any particular year,
then you must advise the Club in writing at least 12 months prior to
the date of occupation; otherwise the Club will be entitled to the
exclusive use of your timeshare.
you wish to withdraw your timeshare permanently from the Club (for
example, if you wish to sell), then you must give the Club no less
than 12 month's written notice, in which case you will no longer be
entitled to your allocation of
Points. Withdrawing your timeshare will in no way affect your
purchased Points and you will continue to be a
iExchange and other points clubs or organisations
7.1 If you
are not a member of iExchange at the time of applying for membership
of The Holiday Club, you will automatically become a member of
iExchange for a minimum period of 5 years, commencing on your first
Anniversary Date, or if you elect to exercise your Points Rights in
terms of clause 1.4 above, then membership of iExchange will commence
on the date such option is exercised.
7.2 The rules
of iExchange may be found on The Holiday Club website:
7.3 You may
not sell, rent, cede or in any other way transfer your Points Rights
to any other timeshare or exchange club or organization.
7.4 You may
not, without the written consent of the Association, rent out, cede
or assign your Occupancy Rights to any other persons, or make a
reservation for any other person, for financial reward.
you wish to sell your portfolio of Points, or you receive a genuine
offer to purchase your Points that you may wish to accept, then you
will first have to offer to sell your Points to us at the same price
and on the same conditions as the offer you have made or received.
This is called a right of first refusal.
we are not obliged to purchase your Points, should we agree to do so,
we will advise you in writing within 5
of you giving us written notice of your intention to sell. The cost
of transfer will be for your account.
8.3 Should we
not wish to purchase your Points, or not advise you within the above
5 working day period, then you will be entitled to sell your Points
for the same price and on the same conditions as offered to or by the
genuine purchaser. We
right to refuse to consent to the transfer of your Points should the
sale be at a lower price than offered to us in
terms of 7.1.
8.4 You may
only sell your purchased Points. All banked or unused Points which
may be to your credit as at the date of
The Holiday Club of your offer will automatically lapse and will not
be transferred to any third party. Any
made in respect of any period after the above date will also
automatically lapse and occupation may not be taken up.
9.1 If you
have elected to take up Premium Holiday Cover, and provided that you
have complied with all terms and conditions of this Purchase
Agreement, the Rules of The Holiday Club and terms of finance, then
you will benefit from:
9.1.1 the "annual fee cover"; and
9.1.2 the "Points refund cover", set out below.
9.2 The "annual fee cover" benefit is a once-off credit of R3000 to your
Membership and Reservation fee account, provided that:
insured must have been the principal Member (being the elder stated
Member in the case of joint membership) and at the time of death,
have been up to date on all accounts with The Holiday Club, including
annual fees and credit finance terms;
insured must have been under the age of 65 at the date of taking out
the cover and must have been under the age of 80 as at the date of
cause of death of the insured must not be attributable to any
condition, be that physical, mental or otherwise, which was in
existence at the time that the Member took out the cover. Death as a
result of suicide (whether sane or insane) is specifically excluded;
beneficiaries, or the executor, must give notice of the death of the
insured to the underwriters within 90 days of the event, and must
timeously and correctly complete such forms and provide such
documentary proof as may be required by the underwriters.
refund cover" entitles the Member to receive a refund:
9.3.1 of all
Points used to make a confirmed reservation where the Member cancels
the confirmed reservation no more than one month prior to the first
day of the intended occupation thereof as a direct result of serious
illness or injury to or the death, serious illness or injury of a
member of his immediate family; or
9.3.2 of a
pro rata number of Points used to make a confirmed reservation where
the Member cuts short occupation of the
reservation by more than 50% of the booked Time Module (full week or
split week) and vacates the Accommodation, together with all those
who had taken up occupation under the Member's confirmed
reservation, as a
of the death, serious illness or injury to the Member, or a member of
his immediate family, or any other
has validly taken up occupation with the Member's confirmed
9.3.3 of all
Points used to make a confirmed reservation where the Member cancels
the confirmed reservation prior to
a direct result of an "Act of God" rendering the Accommodation
reserved as being substantially incapable
9.3.4 of a
pro rata number of Points used to make a confirmed reservation where
the Member cuts short occupation of the
reservation by more than 50% of the booked Time Module (full week or
split week) and vacates the
together with all those taking occupation under the Member's
confirmed reservation, as a direct result
of an "Act
of God" rendering the Accommodation reserved as being substantially
incapable of further occupation.
9.4 The above
Points refund cover is subject to the following conditions:
cause of death, serious illness or injury to the person who has taken
occupation must not be attributable to any
that physical, mental or otherwise, which was in existence at the
time that the Member took out the cover.
Death as a
result of suicide (whether sane or insane) within the first year of
cover is specifically excluded.
occupation cut short must have personally been taken up by the
must be in writing and, together with appropriate proof of the event,
be submitted within 40 days of cancelling the confirmed reservation
or vacating the Accommodation;
refund will be allowed if occupation by the Member, or any member of
the Member's party, exceeds the periods referred to in 8.3.2;
confirmed reservations made in terms of the Rules within The Holiday
Club Points reservation system qualify;
will be refunded to the Member, not a replacement holiday;
refunded Points must be used within 12 months of being refunded;
refunded Points may only be used if the Member is current on all fees
which may then be due;
person whose death, illness or injury results in the claim, must be
under the age of 80 years at the time of death, illness or injury.
9.5 In the
case of an "Act of God" the Points refund cover is subject to the
Holiday Club must have been notified in writing immediately on the
happening of the event giving rise thereto
satisfied itself that the damage to the Accommodation reserved
substantially renders it incapable of occupation;
refund of Points will be allowed if the Member refuses to accept
reasonable alternative Accommodation provided by The Holiday Club;
refund is of Points only and will not cover any travel, accommodation
or other expenses;
provisions of clause 9.4.3 to 9.4.8 (inclusive) apply equally to the "Acts of God" cover.
9.6 You are
limited to one claim per benefit category each year.
will be reviewed annually in September.
9.8 Should a
company, trust or partnership Member take up Premium and Premium Plus
Holiday Cover, then the
representative will be deemed to be the insured person for the
purposes of cover.
Disclosure required in terms of the Financial Advisory and
Intermediary Act: Premium Holiday Cover is a combined
protection scheme underwritten by Regent Life Assurance Company
Limited (Regent Life in respect of life
public company and a registered long term insurer with FAIS license
number 18146, and Regent Insurance
Limited (Regent Insurance in respect of holiday cover), a public
company and a registered short term insurer
license number 25511. They may be contacted at 146 Boeing Road East,
Elma Park, Edenvale, P O Box 674,
1610, telephone 0861 734 368, fax 011 574 2828 or www.regent.co.za.
As the product supplier, Regent
Regent Life have an agreement with an intermediary (broker) through
whom the product is administered. The intermediary is Royal Union
Financial Services (Pty) Limited trading as Royal Union, registration
number 1990/004025/07 and FAIS license number 12970. They may be
contacted at P O Box 68, Kloof, 3640, telephone
031 717 2000
fax 031 717 2686 or email firstname.lastname@example.org. Royal
Union has a mandate to act on behalf of Regent Insurance and Regent
Life. Royal Union does not hold more than 10% shares in any insurance
company and received less than 30% of its income in the last 12
months from any insurance company. Royal
professional indemnity and fidelity insurance.
9.10 In order
to claim under your PHC cover, you can contact them on 086 177 3648,
fax 086 132 9742 or email
The insurer must be notified within 30 days of the claim event. If
you are not
with the outcome of your claim, you may write to the Premium Holiday
Cover complaints department at
or either of the above telephone or fax numbers within 180 days of
have final recourse to the Ombudsman for short term insurance at P O
Box 32334, Braamfontein, 2017.
9.11 If you
have a complaint about this Premium Holiday Cover policy (but NOT
your Holiday Club Points), first try to resolve it with Premium
Holiday Cover. If the matter cannot be resolved, you can submit a
complaint in writing to the Regent complaints department at any of
the addresses above, or phone 086 126 8378, fax 011 579 3599 or email
If the matter is not resolved to your satisfaction by Regent, you may
submit your complaint in
the Ombudsman for short term insurance at the above postal address or
telephone 011 726 8900, fax 011 726
5501 or email
9.12 If you
have a problem with the way the product was sold to you, the
disclosures that were made to you or the advice that was given to you
by Premium Holiday Cover, you must contact them first. If you are not
satisfied with the reply, you
your complaint in writing to the FAIS Ombud at P O Box 74571, Lynwood
Ridge, 0040, or telephone 086 324
766, fax 012
343 447 or email email@example.com.
compliance officer of Regent may be contacted at any of the above
contact addresses of Regent mentioned above. In addition, the
compliance officer can be contacted by email at
9.14 It is
very important that you are quite sure that the policy meets your
needs and that you feel that you have all the information you need to
make a decision. Feel free to make notes regarding verbal information
and ask for written confirmation or copies of documents. You must
accurately, fully and properly disclose all material facts. All
information provided by you or on your behalf is your own
responsibility. You need to be satisfied with the accuracy of any
transaction submitted by anyone on your behalf. You must not sign any
incomplete or blank documents. No person may insist that you do so.
terms and conditions relating to your personal information, recording
of communications and changes to
and conditions, please view the Premium Holiday Cover website at
10.1 In the
event of you breaching this Purchase Agreement or any of your
obligations to the Association in terms of the
and continuing such default, despite 14 days' written notice, then
the Association will have the right to:
enforce these terms and conditions and/or the Constitution and claim
any amounts outstanding; or
terminate your membership Points Rights and all entitlements arising
your Points and any rights attached there to;
retain any proceeds from the sale of the Points, without prejudice to
its rights to recover from you such further
damages as it
may have sustained.
Association may recover from you any costs incurred, whether
consequent upon notice, enforcement,
or sale, legal fees on a scale as between attorney and own client,
interest as allowed by law, collection fees and collection
commissions which may be due.
addition, if you are in arrears, the Association will be entitled to
charge you a default administration fee and arrear
allowed by law.
consent to the Association listing you with any credit bureau should
you be in default, despite notice or any other
against you in terms of the above.
required to be given by one party to another, will be deemed to have
been given as if addressed to the relevant party at the address set
out in Schedule 1. Such notice shall be deemed to have been duly
received, if delivered personally to the addressee, or if posted by
pre-paid post within the Republic of South Africa, 7 days after the
date of despatch.
Purchase Agreement is signed by you on behalf of a company, close
corporation, trust or partnership which is
existence, then you bind yourself as surety and co-principal debtor
for the due and punctual performance by the company, close
corporation, trust or partnership of all obligations in terms of this
Purchase Agreement and the
Any words or
expressions used in this Purchase Agreement (including any Credit
Finance Agreement), unless consistent
otherwise indicated by the context, shall have the meanings assigned
to them or ascribed hereunder, subject to
that, if any such definitions are contrary to the provisions of the
Act (or the Credit Act as the case may be),
shall be deemed to be amended so as to comply with the provisions of
the Act or Credit Act, as applicable.
paragraphs and clauses are explanatory only and do not constitute
part of the Purchase Agreement. The
shall include the plural and vice versa, and any words importing the
masculine gender shall include the remaining
1 Accerent -
means the renting of a Unit, the title of which is vested in the
Member, to the Trust for a specified time, in terms of which the
Trust shall be entitled, for the benefit of the Association, to the
Use Benefits attaching thereto and the
Points Rights for the period so specified.
Accommodation - means a Unit which has been accerented.
Accommodation - means the property, immovable or otherwise,
intended for the use by any Member in any Resort,
movables, and in respect of which the Accommodation is owned, leased,
rented or otherwise available from time to time by the Trust, or the
Company, and is accordingly included in the Scheme.
4 Act -
means the Property Time-Sharing Control Act, No. 75 of 1983 and
includes the regulations promulgated pursuant
Date - means, in respect of each consecutive period of 12 months,
the first day of that month in which the
first instalment is due and payable in terms of his Purchase
Agreement (where the Member undertakes to make payment of the
purchase price by way of instalments) or in respect of a Member who
purchases for cash, the first day of that month in which the full
purchase price is due and payable.
6 Association - means Leisure Property Trust Management Association, established
in terms of the Act and the
Guide - means the guide reflecting the Point Rights issued in
respect of Trade-in Accommodation and Accerent Accommodation.
-means The Leisure Holiday Club Limited (1995/002619/06), the
ordinary shares of which are held by the
Constitution - means the Constitution of the Association, as
amended from time to time.
10 Credit Act - means the National Credit Act, No 34 of 2005 and includes the
regulations promulgated pursuant thereto.
Finance Agreement - means the finance agreement entered into
between the Member and the Trading Company, if applicable, to finance
the purchase of Points.
Committee - means the elected committee of the Association,
appointed from time to time in terms of the
to manage the Scheme.
Agent - means the managing agent appointed by the Association from
time to time in terms of the Constitution.
14 Member - means a member of the Company and Association, inclusive of the
Trading Company, who is a holder of Shares in the Company, and/or
Points Rights in the Scheme, and whose names have been entered in the
share register of the Company and/or the Points Rights register of
the Scheme, and in respect the Purchase Agreement, shall include a
applying for membership.
and Reservation Fees - means any annual recurring contribution
levied on Members in accordance with
provisions of the Constitution and the Purchase Agreement.
Rights - means the rights of a Member, in consideration for Points,
to the exclusive use and occupation
Accommodation for the duration of a Time Module, subject to the rules
of such Resort.
17 Points -
means the instrument by means of which a Member is entitled to
exercise Occupancy Rights.
Rights - means a right of the Member to be allocated with Points by
the Association each year.
User Guide - means the regional guide, as amended from time to
time, reflecting the Points allocated annually to Time Modules.
Agreement - means the written agreement pursuant to which a Member
21 Resorts -
means resort complexes, wheresoever situated in Southern Africa, as
specified in the Points User Guide from time to time.
Grading - means the grading of Time Modules in respect of
Accommodation and the allocation of Points in
in accordance with the relative value of the different Time Modules
in the Resorts.
23 Rules -
means the rules of the Scheme as may be amended varied or added to by
the Executive Committee from time to time.
24 Schedules - means such Schedules issued by or under authority of the
Executive Committee from time to time, which
stock tables reflecting all Units and Use Benefits;
Points User Guide;
information in compliance with the regulations promulgated in terms
of the Act;
other information as the Executive Committee may prescribe.
Scheme/Club - means the property timesharing scheme known as The
Holiday Club conducted in terms of the
and the Rules.
26 Shares -
means non-redeemable preference shares and linked unsecured
non-interest bearing debentures in the
Module - means a period of consecutive days, as reflected in the
Points User Guide, during which a Member
28 Trade-in -
means the transfer of ownership of a Unit, the title of which is
vested in the Member, to the Trust, or the Company, in terms of which
the Trust, or the Company, would acquire title thereto and the Member
issued a corresponding number of Shares and/or Points Rights.
Accommodation - means a Unit which has been traded in.
Company - means TCT Leisure (Pty) Limited (1982/003430/07), or any
other company or person duly
thereto by the Trustees to participate in the Scheme.
31 Trust -
means the Leisure Property Trust (Master's reference 4651/1993).
32 Trustees -
means the Trustees for the time being of the Trust.
33 Unit -
means shares in a share block company pursuant to the Share Block
Control Act 59 of 1980, sections, or an undivided interest in a
section in a sectional title scheme pursuant to the Sectional Titles
Act 95 of 1986, or timeshare interests pursuant to the Act.
Benefits - means the right of use in respect of a Unit which has
been accerented to the Trust.
RULES OF THE HOLIDAY CLUB
information relating to this Scheme, is required to be Standard
Statutory Schedule disclosed in terms of Section 4 of the Act:
1 Seller -TCT
Leisure (Pty) Limited 1982/003430/07. 3 Daly Street, Port Shepstone
4240, KwaZulu-Natal. Purchaser - The Member as per schedule 1 of the
2 The legal
basis of the Scheme is a contractual relationship between the Trading
Company, the Leisure Property Trust
Association and the Member pursuant to the Purchase Agreement, and
the rights and duties conferred by
Constitution, in terms of which the Member acquires in perpetuity,
Points Rights in the Scheme, which entitles the
Member to use
and occupy Accommodation in Resorts.
immovable property in the Scheme comprises:
3.1 Units in
respect of which the Trust holds title in terms of the Deeds Registry
Act, No 47 of 1937, or the Sectional Titles Act, No 95 of 1986, or
the holding of shares in terms of the Shareblocks Control Act, No 59
of 1980, or leases or
rights in and to immovable property in terms of the Act; and
Benefits which have been rented to the Trading Company or the Trust
in respect of Units, the title of which
vested in a particular Member of the Scheme in accordance with that
Member's Purchase Agreement with
3.3 Units or
Use Benefits owned either directly or indirectly by the Trust as
referred to above, details of which immovable
contained in The Holiday Club Pleasure Guide and the Schedules.
4 Without in
any way limiting the generality of the aforegoing, details of leases
in respect of Units are disclosed in the
5 Details of
mortgage bonds encumbering Units, if any, are included in the
6 The amount
or consideration for which the Purchaser has paid in acquiring the
Points and corresponding Points Rights
annual rates, periodic instalments and due date of instalments are
contained in schedule 3 of the Purchase
7 Copies of
the certificates in terms of Section 7(1) of the Act are disclosed in
details of the Scheme and of the rules in accordance with which
Points Rights are to be utilised, may be inspected at the offices of
the Trading Company at the physical address referred to in 1 hereof.
inventory of movables which will be available for use by the Member
in conjunction with his Points Rights, is disclosed in The Holiday
Club Pleasure Guide.
10 The Member
has chosen English as the official language in which the Purchase
Agreement shall be drawn up.
These are the
rules and regulations of The Holiday Club as at 1 January 2002 Resort
of any intended visitors. The Member must ensure that on Scheme Rules
Of The Holiday Club made by the Executive Committee in terms of the
Constitution. Each term used in these Rules shall, unless the context
determines otherwise, bear the same meaning as the corresponding term
used in the Purchase Agreement and the standard terms and conditions.
the rules of the applicable Resort:
Immediately upon their arrival at the Resort, all Members must advise
their arrival to the management of the Resort.
Member must produce a written reservation confirmation to the Resort
upon arrival. A Resort has the right to deny occupation in respect of
any reservation should the reservation confirmation not be produced,
in which case The
will not accept responsibility for the refusal by the Resort to allow
who have reasonable cause to believe that they will check-in after
the check-in time must advise the Resort
The check-in times are specified in the reservation confirmation and
are displayed at the Resort.
may require a security or breakage deposit on arrival.
1.5 No Unit
may be occupied by more than the number of persons determined for the
Unit by the Resort.
1.6 No Member
or their guest may bring into, store or use any flammable liquid,
chemical, gas, or other material in a Unit,
the materials intended for the proper use in such Unit.
management of the Resort may inspect and carry out all necessary
repairs to a Unit at all reasonable hours.
1.8 No Member
or their guest may make a copy of the key to a Unit and all Members
and their guests must return all keys to the Resort at the time of
1.9 The use
of motor vehicles, motor cycles, trailers, caravans or boats may only
be driven, parked, moored or used in
with the rules of the Resort relating to motor vehicles.
who wish to use available telephone, facsimile, baby sitters, tours,
cleaning and any other such services,
charged at the prevailing rates, which charges may be payable
directly to the Resort immediately or at the time of
The Resort may require a security deposit for such services at the
time of checking in, for example, a credit
other fee charged by the Resort, including fees such as electricity
and water usage, gate fees and fishing
shall be paid directly to the Resort. The Holiday Club cannot be held
responsible for the payment of these
and use of facilities
facilities available for booking and use shall be booked and used in
accordance with the rules of the Resort.
2.2 Use of
any facilities is solely at the risk of the user.
on use of facilities
and their guests will comply with any restrictions imposed by the
Resort on the use or continued use of any
amenities offered, including the payment of any fees for the use
to the rules of the Resort, Members may invite visitors to the Unit
they are occupying and such visitors may remain only whilst in
arrival, all visitors sign the visitors' book maintained by the
3.2 It is the
responsibility of the inviting Member to ensure that visitors are
properly familiar with and in all respects comply
Rules and the rules of the Resort.
and their guests, whilst occupying any Unit or using any facility,
with these Rules;
with the rules of the Resort relating to the occupation of the Unit
and the use of the facilities;
with any request or direction of the management of the Resort;
contravene, or permit contravention of any law, by-law, ordinance,
house rule or any condition of any licence relating to occupation of
the Unit or use of the facilities;
conduct themselves in any manner which shall or may be a nuisance,
disturbance, hazard, or an unreasonable
with the use and peaceful enjoyment of other Units and facilities by
other Members or guests of the Resort;
occupy any Unit or use any facility for any purpose which is or may
be illegal or injurious to the good name and
The Holiday Club;
4.7 Not make
any alterations to or damage or deface any part of any Unit or
Holiday Club not liable
Holiday Club shall not be responsible or liable for any loss or
damage to the property or injury to the person of any Member or guest
at any Resort, arising from any cause whatsoever. Members and guests
indemnify and hold
Holiday Club, its servants and agents, the Association, the Trustees
and the Members from and against
all loss or
damage to that person's property and person, howsoever lost, damaged
or injured, and whether caused by
act or omission on the part of The Holiday Club, its servants and
agents, the Executive Committee, the
other Members and guests.
Holiday Club shall in no way be responsible for any Members'
reluctance to occupy, loss or refusal of occupation
of any Unit,
or use of any facility, as a result of:
Member or guest not complying with these Rules and/or the rules of
5.2.2 any act
of God; or
inconvenience or nuisance occasioned, poor condition or standard of
the Unit, facilities, roads and infrastructure at or leading to the
Resort. Any Points lost or forfeited thereby will not be refunded to
and complaints concerning the Resort should be forwarded to Member
Services at the head offices of The
of the Rules
Member, or other person at the invitation of the Member, occupying
any Unit, wilfully refuses or neglects to comply
provisions of these Rules or of the rules of the Resort or engages in
conduct which in the reasonable opinion of the Executive Committee is
prejudicial to the interests of The Holiday Club or other Members,
then the Executive
take such action as it deems reasonably necessary to terminate that
Member's use and occupation of
any Unit and
may suspend the exercise by that Member of any other rights the
Executive Committee may reasonably
which is in the interests of the Club and the Members as a whole.
Notwithstanding such suspension, the
remains liable to pay all Membership and Reservation Fees.
that the Member is fully paid up to date on all amounts owing to the
Trading Company and the Association,
may make a reservation into Accommodation.
reservation requests must be timeously made directly to The Holiday
Club Central Reservations by telephone, fax,
e-mail, or such other method as the Executive Committee may determine
from time to time.
reservation request must be accompanied by the Member's name and
making a reservation request, the Member must provide a first choice
and at least four alternative options of
destinations and dates.
reservations are subject to availability on a first-come first-served
reservation will only be deemed confirmed once a written reservation
confirmation is received by the Member from
8.7 The onus
for receiving and ensuring the reservation details contained in the
reservation confirmation are correct, rests
and week-end splits
that the applicable Resort provides for it and subject to
availability, a Member may make a reservation request of a Time
Module comprising a mid-week or week-end period falling within low
and mid season (ie excluding school holidays).
Resort in which mid-week and week-end Time Modules are provided may
charge the Member an additional linen fee to cover the additional
costs of splitting the full week
9.1 A Member
wishing to cancel a confirmed reservation must send a written notice
to that effect to Central Reservations.
Member's Points account:
9.2.1 will be
credited with all Points if that Member's cancellation notice is
received by Central Reservations more than 10
to the check-in date of the cancelled reservation;
9.2.2 will be
credited with 50% of the Points if that Member's cancellation notice
is received by Central Reservations less
than 10 weeks
but more than 8 weeks before the check-in date of the cancelled
not be credited with any Points if that Member's cancellation notice
is received by Central Reservations less
than 8 weeks
before the check-in date of the cancelled reservation.
not be credited with any of the Points that would have, but for the
confirmed reservation, lapsed in terms of Rule 11.3 by the time of
allocation of Points
10.1 A Member
may take up to a 2 year advance on the allocation of Points, subject
to the availability of the Points and the advance payment of
estimated annual Membership and Reservation Fees attaching to the
Points will only be allocated to the Member and credited to his
Points account once payment of the estimated annual Membership and
Reservation Fees has been received.
10.3 Once the
actual Membership and Reservation Fees for the applicable year or
years, as the case may be, are raised, the Member will be credited
with any excess, if any, or debited with any shortfall, as the case
may be. The onus for claiming any credit will rest solely on the
10.4 A Member
wishing to take up an advance on the allocation of Points
corresponding to his Accerent Accommodation shall request a pro forma
invoice from his Resort in respect of the future levy or levies
payable in respect of the Accerent
(corresponding to the period of advance) and shall provide to The
Holiday Club, proof that such future
levies are paid in full before any such Points are advanced to the
Member. The Holiday Club may deduct any
advanced should The Holiday Club be precluded from using the Accerent
Accommodation (during the
period) as a result of any non-payment of the future levy or levies.
Points which may be standing to the credit of a Member at the end of
the year in which they were allocated will
accrue to the Points account of the Member in the following year and
accrue for a further one year thereafter, provided that such accrued
Points are not used in that following or subsequent year.
Points, which are the oldest in time, will be used in confirming
reservations before any Points allocated for any current year.
Points accrued for two years that are not used by the Member by the
last day of the third year, shall lapse and no longer be available to
Points, together with any current Points, may only be used to make a
reservation request if all annual Membership and Reservation Fees
attaching to the years from which they were accrued are paid in full.
binding on Members
Rules shall be binding and enforceable on the Association and all
Members, save that where any Rule is
with any provision of the Constitution, then the provision of the
latter shall prevail.
Members and guests shall, for as long as they are in occupation of
any Unit or making use of any facility, be bound by the rules and
regulations of the Resort at which the Unit and facility is located.
13.1 In terms
of the Constitution, the Executive Committee may from time to time
amend, vary or add to these Rules should such amendments, variations
and additions be necessary for:
governing and regulating the use and manner of use by Members, or
their guests, of the Accommodation;
governing and regulating the exercise by Members of their Occupancy
other matters for the purposes of fulfilling the duties of the
amendments, variations and additions to the Rules shall be brought to
the notice of Members within a reasonable time after they are made
and in such manner as the Executive Committee deems to be
appropriate. Without limiting the aforegoing, such notice may be
contained in any correspondence, statements, periodicals or
in any update
to the Holiday Pleasure Guide.
13.3 Any Rule
amended, varied or added shall become of force and effect,
notwithstanding notice, 14 days of the Rule being so amended, varied
or added and the date appearing at the beginning of these Rules shall
be deemed the effective date.
OF THE HOLIDAY CLUB
1.1 Any words
or expressions used shall have the meanings ascribed thereto in the
CATALOGUE OF DEFINITIONS.
are used in the agreement for purposes of convenience only and shall
not affect its construction or
Association to be established shall be known as, The Leisure Property
Trust Management Association.
Association shall be responsible for:
management of the Scheme;
enforcement of the Rules.
of the Association
Association shall carry out the duties assigned to it under the Act
and in terms of this Constitution, which shall include the duty to
use its best endeavours to manage and administer the Scheme for the
benefit of the Members.
Association shall issue Point Rights Certificates to Members as may
be determined from time to time by the
and/or issue shares in a Public Company.
Association shall maintain the Points Rights / Share Register in
Association shall, on application by a Member certify in writing;
amount of Membership Fees due by such Member to the Association in
terms of 12 hereof;
manner in which such Membership Fee is payable; and
extent to which such Membership Fee has been paid by the Member.
addition to such other duties imposed on it in terms of the Act, the
Association shall maintain accurate written records of all its
financial transactions and affairs, and shall deposit all money
received by it into a bank or building society account in its name.
of the Association
Association may exercise the powers conferred upon it by or under the
Act and this Constitution which shall include the power:
establish a Membership Fund sufficient in the opinion of the
Executive Committee for the repair, upkeep, control,
and administration of the Scheme including maintenance and repair of
the Accommodation and Movables;
determine from time to time the amounts to be raised for the purpose
Association shall undertake the payment of all Levies to any body
corporate or managing agent due in respect of Units held by the
require from Members that they make contributions to such Fund for
the purposes of satisfying any claims against the Association,
whenever the Association shall deem it necessary, and to charge
interest and additional
charges, and to determine the rate of interest due by any Members who
fail to pay Membership Fees by the date on which they fall due;
4.1.5 To open
and operate a current account and/or savings or other
interest-bearing account with a banking institution or a building
society for purposes of depositing payments received from Members;
appoint employees as it may deem fit;
enter into such agreements as it may consider necessary in connection
with the control, administration and
the Scheme and to do all such things as may be necessary to give
maintain or ensure the maintenance of the Accommodation and the
borrow monies required by it, against security if necessary, in the
performance of its duties or the exercise of its powers and in
pursuance of its business;
secure the repayment of monies borrowed by it and the repayment of
interest thereon, by negotiable instrument or the hypothecating of
any property vested in it;
invest any surplus monies of the fund remaining after giving effect
to the provisions of this clause for the benefit of the Membership
appropriate to enter into an agreement with any party for the
provision of amenities or services in respect of the Accommodation
4.1.13 To do
all things reasonably necessary for the enforcement of the Rules and
generally the control, management and administration of the Scheme;
deny any Member the use of any Accommodation, for any period during
which such Member is in arrears in payment of any monies due by such
Member to the Association or the Trading Company, or during which
such Member is otherwise in breach of any of his obligations under
appoint an Executive Committee as provided in terms of this
prohibit the transfer of any Point Rights or Shares or the exercise
of any Occupancy Right by any Member unless all monies due to the
Association and the Trading Company by that Member have been paid or
provision has been made to the satisfaction of the Association for
Generally to do or perform, or cause to be done or performed, any act
deemed necessary for all the furtherance of the objects of the
Association as referred to in 2.2, including the right to prohibit,
restrict or control use of any of the
or any part thereof as may from time to time be necessary to
Trustees may at their sole discretion return a portion or all of a
Member's Accerented Accommodation per schedule 4 to the Purchase
Agreement to the Member if in their opinion such Accommodation no
longer benefits the Club or its Members. In such event the Member
will no longer be credited with the annual user Points relative to
contributions levied in terms hereof shall be due and payable on the
passing of any Resolution to that effect by the Association or the
Executive Committee, and may be recovered by action in any
magistrate's court of competent
from persons who are Members at the time such resolution is passed.
Association shall have the right to assign to a Managing Agent, any
of its rights, powers and obligations in terms of this Constitution,
and unless otherwise stated herein, the duties and powers of the
Association may be fulfilled and exercised by the Executive Committee
as fully and effectually as if exercised by the Association.
Executive Committee may from time to time make certain Rules as is
Governing and regulating the use and manner of use by Members, or
their guests, of Accommodation;
Governing and regulating the exercise by Members of Occupancy Rights;
out and governing the basis of calculation of Membership Fees and the
apportionment of thereof,
computation and nature of costs to be included therein;
other matters as the Executive Committee may deem necessary for the
purpose of fulfilling the powers and duties of the Association.
the Association nor the Executive Committee, nor any of its Members,
officers or employees, shall be responsible for any loss or damage
which a Member may sustain by reason of an act or omission on the
part of the Association, the Executive Committee, or the officers or
employees of either the Association or the Executive Committee, or
arising from any other cause, whether any such act or omission
relates to the performance or non-performance of the
or the Executive Committee of their duties in terms of this
Constitution or otherwise.
Rights / Share Register
persons whose names appear in the Points Rights / Share Register
shall be Members of the Association.
Association shall keep the Points Rights / Share Register which will
name and address of each holder of Point Rights / Shares;
description of the nature and duration of Point Rights / Shares held
by each Member;
respect of each Member
date on which his name was entered in the Point Rights / Share
Register as a Member;
and when applicable, the date on which he ceases to be a Member.
Rights / Shares Certificates:
be issued to Members as soon as their names have been entered in the
Point Rights / Share Register;
5.3.2 May, if
defaced, lost, destroyed be replaced by the Executive Committee or
bear the signature of one member of the Executive Committee and one
5.4 Should a
Member cease to be a holder of a Point Rights / Share Certificate or
cease to be entitled to Points Rights /
shall ipso facto cease to be a Member of the Association.
5.5 No person
shall acquire Point Rights / Shares unless he shall have agreed to be
bound by the provisions of this
of Points Rights / Shares
Points Rights / Shares which were acquired by a Member pursuant to a
Purchase Agreement in terms of which the Member traded in, ceded or
rented Use Benefits in Accommodation to the Trust in exchange for
Points Rights /
not be capable of being sold or otherwise alienated by the Member
unless title to the Accommodation
transferred to the Trust.
to the provisions of 6.1 a Member may sell or transfer Point Rights /
Shares to a third party provided that:
transferor has paid all amounts which may be owing by him to the
Association or Trading Company; and
transferor is not in breach of any of the provisions of this
transferee has agreed to become a Member of the Association and
agrees to be bound by the provision of this
which consent must be given in writing; and
prior consent to the transfer by the Executive Committee has been
granted in writing.
6.3 In the
event of a Member wishing to so transfer his Point Rights / Shares he
shall deliver the Points Rights / Share
to the Association or Managing Agent together with a request form
duly completed by such Member and by
the person to
whom the Points Rights / Shares are to be transferred. Upon the
payment of the applicable fee, the
or Managing Agent shall issue a fresh Point Rights / Share
Certificate in the name of the transferee. The
or Managing Agent shall record the name of the transferee in the
Point Rights / Share Register.
transferee shall ipso facto be constituted a Member by the entry of
his name into the Point Rights / Share Register and the issue to him
of a Point Rights / Share Certificate.
Cessation of Membership
7.1 A Member
shall cease to be such when he ceases to be the registered holder of
Point Rights / Shares in terms of the issue to him of a Point Rights
/ Share Certificate.
7.2 Upon a
Member ceasing to be such, neither he or his successors in title
shall have any claim against the
or any interest in or rights against the Trust.
Undertakings by Members
irrevocably undertakes to be bound by this Constitution and to comply
diligently with the provisions
the Rules issued pursuant hereto.
Occupancy Rights shall be exercisable during a Time Module, and
duration in each instance of a Time Module shall be shown on the
Resorts Points User Guide and the
due shall be the number of Points determined in terms of the Points
Grading of the Accommodation as
shown on the
Resorts Points User Guide from time to time.
Points Grading of Accommodation shall be determined by the Trading
Company in the manner prescribed in the Scheme Agreement.
arising from the inclusion of Accommodation in the Scheme shall rest
firstly in the Trading Company and the
Company shall thereby be admitted to membership of the Association.
10.1 Not use
the Accommodation or permit it to be used in such a manner or for
such purpose as will cause a nuisance to other Members or to other
persons lawfully entitled to the use thereof, and shall ensure
compliance with the Rules by any
including servants, guests and any member of the family of any Member
10.2 Not use
the Accommodation or permit it to be used in such a manner or for
such purpose as shall be injurious to the
the Scheme of the Resort;
reasonable care in the use of the Movables;
10.4 For the
duration of the Time Module, be solely responsible for:
risk of loss or damage thereto or to the Movables;
proper maintenance and upkeep thereof;
contravene or permit the contravention of any law, by-law, ordinance,
proclamation, statutory regulation or the
any licence relating to or affecting the occupation of the buildings
or the common property comprising Accommodation or the carrying on of
business in such buildings or the conditions of title applicable
the Accommodation in accordance with and abide by the rules and
regulations as determined by any body
management of the respective Resorts from time to time.
any person authorised by the Executive Committee to enter the
Accommodation at reasonable times for purposes of repair, inspection
or maintenance. No Members shall have any claim against the
Association as a consequence of any disturbance of his Use Rights by
way of such operation.
Liabilities of Members in respect of Membership
shall contribute Membership Fees and any such charges as the
Executive Committee may raise by way of
charges as envisaged in clause 12.
liability of a Member as contemplated above shall:
11.2.1 Be a
debt due to the Association;
from the date on which he is admitted to membership of the
Continue uninterrupted for as long as he remains a Member.
Membership Fees and Special Charges and calculation thereof
12.1 Prior to
the end of each financial year the Executive Committee shall, in
terms hereof, prepare an estimate of
Fees for the following financial year of the Association.
Membership Fee and other charges shall be payable in advance:
respect of a Calendar Member, by no later than 30 September of the
year immediately preceding that in respect
of which such
fees are due; and
respect of an Anniversary Member by no later than the first day of
the month immediately preceding the Anniversary Date of that Member;
or as directed by the Executive Committee from time to time. For the
purposes of the above, "Calendar member" means a Member who is
entitled to an annual allocation of Points on 1 January each year,
of the date membership commenced, and "Anniversary Member" means
a Member who is entitled to an
allocation of Points on his Anniversary Date, and "Anniversary
Date" means in respect of each consecutive
period of 12
months, the first day of the month immediately following that month
in which the Member's first instalment is
to his purchase agreement (where the Member undertakes to make
payment of the purchase price by way of instalments), or in respect
of a Member who purchases for cash, the first day of the month
immediately following that
which the full purchase price is paid.
Membership Fees chargeable to Members shall be calculated in such a
manner so as to be sufficient, in the
the Executive Committee, to ensure the proper functioning of the
Scheme and shall include all levies and
by the Trust in respect of the Accommodation to Resort bodies
corporate and/or managing agents and the
of Accommodation which terminated for any reason whatsoever.
Membership Fees calculated in accordance with 12.3 may, in the
discretion of the Executive Committee, include a
for the creation of a contingency fund.
apportionment of the average Membership Fee per Point in the Scheme,
may at the discretion of the Executive
amended as it deems fit in the interests of the Scheme.
Executive Committee may, during the currency of any financial year
recover from Members by way of special levy or any expenses actually
necessary or incurred by the Association and which were not
adequately provided for in
referred to in 12.1.
special levy may be limited to cession or trade-in type Members in
the event that the resort levies and/or special levies debited by
these Resorts exceed the Membership Fee charged by the Association
per 12.3 hereof.
Member shall furthermore be liable to pay to the Association an
annual central reservations fee and
fee which shall be determined by the Executive Committee and which
shall be charged to each
regardless of whether or not any particular Member utilised or
occupied or reserved the use or occupation of any
during that year.
certificate at any time issued by the Executive Committee certifying
the amount due and payable by the Member in
his Membership Fee, shall constitute prima facie proof of such amount
due, in respect of levies or other
to the Association.
13.1 Should a
Member fail to pay any amount owing to the Association on due date
and thereafter fail, for a period of 14
issue of notice of a demand by the Association to the Member, to pay
such amount or to be in breach of any of
obligations and fail to remedy same, within 14 days after issue of
notice of demand by the Association requiring him
such breach, then the Association or the Managing Agent shall be
entitled, without prejudice to:
Declare all amounts owing by the Member to the Association as being
immediately due and payable;
obtain possession of the Point Rights / Share Certificate from such a
Member and to cancel the said Certificate and to issue a new
Certificate in replacement thereof.
cancel or sell or dispose or realise of such Members Occupancy Rights
on such terms and conditions as the
Committee in their discretion may deem fit.
Member shall be deemed to have ceded to the Association all his
rights arising from his Point Rights /
security for the due and proper performance by him of all his
obligations in terms hereof.
Member irrevocably appoints the Executive Committee or Managing Agent
as his lawful attorney and agent in his place and stead to sign all
such transfer and other documents as may be required to give effect
Association shall, subject to the conditions as provided for herein,
appoint an Executive Committee who shall
powers and fulfil the duties of the Association in accordance with
the provisions of this Constitution.
elected Management Association Executive Committee Members require
direct ownership of thirty
Points as a minimum qualification for acceptance onto the Executive
shall be no more than 10 Executive Committee Members which shall
14.2.1 Of 5
persons nominated by the Association from its Members and;
14.2.2 Of 5
persons nominated by the Trust, which persons need not be Members of
the Association: provided that the
persons nominated as per 14.2 shall at no time be in excess of those
nominated as per 14.2
Notwithstanding anything to the contrary contained herein the two
Trustees in office as at date of the adoption of this
shall remain the sole Executive Committee Members for a period of 1
year from such date, provided that the said Trustees may be entitled,
at their discretion, to extend this period of office for a further
period of 2 years.
the periods of office referred to in 14.3 the Executive Committee
Members then in office shall be entitled to co-opt a further three
Executive Committee Members, which additional Members need not be
Members of the
14.5 At the
first General Meeting of the Association, after the expedition of the
periods of office referred to in 14.3, the
section of the Executive Committee shall be elected comprising
Members per 14.2.1, which section of
Committee shall hold office for terms of 5 year periods or more or
until re-election is demanded during a
Meeting after the 5 year term.
Co-option of Executive Committee members
Committee may fill any vacancy in the number caused by Executive
Committee Members ceasing
office subject to clause 14.
Alternative Executive Committee members
Committee Member may appoint another person, acceptable to his
Co-committee Members, to act in
during his absence.
Remuneration of Executive Committee members
Association shall reimburse to the Executive Committee Members, all
disbursements and expenses actually and
incurred by them in carrying out their duties and exercising their
Association may remunerate any Executive Committee Member, at a rate
to be approved by the Association in the General Meeting.
Executive Committee Member, agent or any other officer or other
officer or servant of the Association is hereby indemnified by the
Association against all costs, losses, expenses and claims which he
may incur or become liable for by reason of any act done by him in
the discharge of his duties, unless such costs, losses, expenses or
claims are caused by the gross negligence, wilful default or
fraudulent act of such person.
indemnity referred to in 18.1 shall apply in favour of any Managing
Agent appointed in terms of this constitution.
Disqualification of Executive Committee and removal from office
shall cease to hold office as such;
19.1 If by
notice in writing to the Association he resigns from his office;
19.2 If he is
or becomes of unsound mind;
19.3 If he
surrenders his estate as insolvent or his estate is sequestrated;
19.4 If he is
convicted of an offence which involves dishonesty;
19.5 If he
becomes disqualified from being appointed or acting as a director of
a company in terms of the Companies Act.
Meetings of the Executive Committee
Committee may give notice to convening meetings, meet together for
despatch of business, adjourn
regulate their meetings as they think fit.
of the Executive Committee
21.1 A quorum
at a meeting of the Executive Committee shall be two, provided that
at least one shall be a person as
terms of 14.2.2.
21.2 If at
any meeting of the Executive Committee a quorum is not present within
thirty minutes of the appointed time of the meeting, such meeting
shall stand adjourned to the next business day at the same time and
the Executive Committee
present shall form a quorum, which must include an equal number of
Trustees one of which will be
Chairman of the Executive Committee
22.1 At the
commencement of the first meeting of the Executive Committee and
thereafter at each Annual General Meeting, the members of the
Executive Committee shall elect a chairman from among their number
who shall hold office as such until the next ensuing Annual General
Meeting and who shall have a casting as well as an ordinary vote.
chairman in terms of this Constitution shall be elected from the
persons nominated in terms of 14.2.2.
22.3 If any
chairman elected vacates his office, the Executive Committee shall,
subject to the provisions of 22.2, elect
chairman who shall hold office as such for the remainder of the
period of office of the first-mentioned
who shall have the same rights of voting.
by the Executive Committee
matters at any meeting of the Executive Committee shall be determined
by a majority of the votes of the Executive Committee members present
resolution in writing signed by all the Executive Committee member
for the time being shall be as valid and effective as if it has been
passed at a meeting of the Executive Committee duly convened and
chairman shall have a casting vote.
functions, powers and duties of the Executive Committee
and powers of the Association shall, subject to the provisions of
this Constitution and to any restriction
direction given at a General Meeting, be performed or exercised by
the Executive Committee.
Committee shall be entitled to exercise the full powers of the
Association, including the power to make
subject to any restriction imposed or directions given at a General
Meeting of the Association.
signed on behalf of the Association shall be valid and binding unless
it is signed by two Trustees, or by
the Managing Agent.
of Executive Committee
prior to the end of each financial year, prepare or procure
preparation of or revise an itemised estimate of the
income and expenditure of the Association for the ensuing financial
year and the financial year immediately
for the purposes of estimating contributions to be levied on Members,
and which may include a reasonable
reserves and contingencies;
estimate the amount to be levied upon Members during the ensuing
financial year and charge a management
fee upon the
Members in such estimated amount;
26.3 May from
time to time make special levies upon Members;
keep a record of the Scheme Rules in force from time to time;
minutes of their proceedings and resolutions passed in a minute book;
a record to be kept of all minutes of meetings or resolutions passed
by the Members of the Association in a
kept for that purpose;
all minute books, or microfilmed or other copies thereof, in
26.5.4 On the
written application of a Member make all minutes of their proceedings
and of the minutes of the Association, or copies thereof, available
for inspection by such Member at the head office of the Managing
cause proper accounts and records to be kept so as to explain fairly
the transactions and financial position of the Association,
record of the assets and liabilities of the Association;
record of all sums of money received and expended by the Association
and the matters in respect of which such
Individual accounts in respect of each Member.
cause to be prepared and shall lay before every Annual General
Meeting for consideration in terms hereof, an
financial statement in conformity with generally accepted accounting
from time to time appoint an auditor of the Association and fix his
cause all monies received by the Association to be deposited to the
credit of an account or accounts with a
commercial bank or building society in the name of the Association,
or its nominee;
invest or cause the investment of any funds not immediately required
for disbursement in an interest-
account in order to accumulate a reserve for future expenditure;
Generally to perform any such other duties as may be required to be
performed by the Association in terms of the
promulgated in terms of the Act.
Meetings of members
General Meetings of the Association shall be held once every year, by
not later than 31 December.
financial year of the Association shall run from the first day of
January until the last day of December in the same year.
Executive Committee may, whenever they deem fit and shall upon
request by either the Trustees, or by Members holding Point Rights /
Shares representing 10% of the total Point Rights / Shares at that
time, convene a General Meeting.
27.4 If the
Executive Committee fails to convene a meeting so requested in terms
of 27.3 within 28 days of the request the Trustees and the Members
concerned shall be entitled themselves to call the meeting.
of General Meetings
28.1 At least
14 days' notice of every General Meeting specifying the place, the
date and the hour of the meeting and, in the case of special
business, the general nature of such business, shall be given to all
Members, to the Managing
members of the Executive Committee and to the Trustees.
Managing Agent and Trustees shall have the right to attend the
General Meetings and to speak at such meetings, and in their capacity
as such, be entitled to vote.
notice referred to herein shall be accompanied by copies of the
audited financial statements of the Association
when it is
given in respect of the Annual General Meeting.
business shall be transacted at any General Meeting unless a quorum
of persons including two Trustees is
person or by proxy at the time when the meeting proceeds to business.
29.2 A quorum
at a General Meeting shall be three persons who are either Members,
Trustees or Executives present in
person or by
proxy and entitled to vote, but must include two Trustees.
within half an hour from the time appointed for a General Meeting a
quorum is not present, the meeting shall stand
until the same day in the next week at the same place and time, and
if at the adjourned meeting a quorum is
within half an hour from the time appointed for the meeting, the
Members present in person or by proxy and
vote shall be a quorum, subject to 29.2.
of the Executive Committee or his nominee shall preside as chairman
at every General Meeting of the
and shall have a casting vote.
at General Meetings and polls
31.1 At any
General Meeting a resolution put to vote of the meeting shall be
decided on a show of hands unless, either
prior to or
on the declaration by the chairman of the result of the show of
hands, a poll is demanded by any person
vote at such a meeting.
31.2 Unless a
poll be so demanded a declaration by the chairman that a resolution
has on the show of hands been arried, shall be conclusive evidence of
that fact without proof of the number or proportion of votes recorded
in favour of or gainst such resolution.
31.3 A demand
for a poll may be withdrawn.
31.4 A poll,
if demanded, shall be taken in such a manner as the chairman thinks
fit, and the result of the poll shall be deemed to be a resolution of
the meeting at which such poll was demanded.
two or more persons are registered as joint holders of Point Rights /
Shares, any one of them may vote as herein provided.
32.1 On a
show of hands each Member, Trustee or Executive Committee member
present shall have one vote.
32.2 On a
poll each Member or Trading Company representative present in person
or by proxy and voting at the meeting shall be entitled to vote on
the basis of Points Rights / Shares held.
33 No vote
in certain circumstances
cases where a Special Resolution or a Unanimous Resolution is
required under this Constitution, a Member
shall not be
entitled to vote at any General Meeting if:
Membership and other fees payable by him have not been duly paid; or
33.2 he has
persisted in breach of any of the Scheme Rules, of any of the house
rules referred in this Constitution, or of any of the terms of this
Constitution notwithstanding notice in writing from the Executive
Committee or Managing Agent to refrain from or remedy such breach.
34.1 Votes at
a General Meeting may be cast either personally or by proxy, whether
on a poll or on a show of hands.
instrument appointing a proxy shall be in writing under the hand of
the appointer or his agent duly appointed in writing and shall be
deposited at the office or such other place as may be specified from
time to time by the Executive
not less than 48 hours before the time for the holding of the
meeting, at which the person named in the
proposes to vote, and in default of compliance herewith the
instrument of proxy shall not be treated as valid.
34.3 A proxy
need not be a Member.
provisions of this Constitution may be amended or added to by way of
a Special Resolution of the Members;
for the duration of the period referred to in 14.3 the Executive
Committee therein mentioned shall have the
exclusive right to amend this Constitution.
refunds or distribution of profits or assets
Member shall be entitled to a refund of monies lawfully levied upon
him and paid by him.
portion of the capital or gains of the Association shall be
distributed to any Member or any other person except upon termination
of the whole or part of the Scheme.
Appointment, powers and duties of Managing Agent
Notwithstanding anything to the contrary herein contained, the
Executive Committee may from time to time and shall in any event if
so required by the Members in the General Meeting, appoint in terms
of a written contract a Managing
manage and administer the Scheme, the Units and the Use Rights to
exercise such powers and duties as may be entrusted to it, including
the power the collect Membership Fees.
Managing Agent so appointed shall:
full records of his administration and shall report to the Committee
and the Trustees on all matters which in its opinion may materially
detrimentally affect the value or amenity of the Accommodation or the
all meeting of the Members and the Executive Committee;
entitled to, and the Executive Committee shall from time to time
furnish such Managing Agent with, copies of the minutes of all
meetings of the Members and the Executive Committee.
of the Association shall be examined and the correctness of the
income and expenditure account and
sheets shall be ascertained by the Auditors at least once during any
notice requested to be given in terms of this Constitution shall be
in writing and shall be delivered by hand or
the addressee by pre-paid post and shall be deemed to have been
received 7 days after the date of its
may be given by the Association to any Member, either personally or
addressed to such Member at such
the last address as he may have notified the Association in writing,
or if such Member has failed to notify
Association in writing of any such address, at the address of the
Member from whom he acquired Point Rights / Shares.
Association shall continue until the termination of the Trust and on
termination thereof the Association shall be
40.2 On the
dissolution of the Association, any excess of the Associations assets
over its liabilities shall be distributed in
as the Executive Committee shall determine, due regard being had to
the rights and interest of the
AGREEMENT STATEMENT AND TERMS OF FINANCE
1.1 The whole
principal debt is distributable to the Trading Company as vendor and
1.2 The cost
of credit, including the principal debt, amount deferred and all fees
and charges are set out in Schedule 3.
1.3 You will
be provided with a written statement posted or sent electronically to
your chosen address no less than every two months.
1.4 The cash
price of your Points is the purchase price set out in Schedule 3.
balance of the purchase price due, after deducting the deposit made
by you, will be paid in instalments calculated in accordance with
Schedule 3, which instalments shall be inclusive of the following
charges: a nominal monthly service
fee and an
initial entrance fee, if you choose not to pay this up-front. These
charges shall, where applicable, be inclusive
is charged at the rate allowed in terms of the National Credit Act.
In the event of the interest rate changing in terms of the law, the
rand amount of the interest set out in Schedule 3 may change, and
your instalment will, on 30 days written notice to you, be adjusted
accordingly. In the event of you failing to make payment of any
instalment when due, interest shall be charged on the arrear amount
at the default interest rate quoted (or varied in terms of the above)
and which rate shall be deemed the interest rate applicable to the
principal debt under this agreement.
on the purchase price received from you will firstly be allocated to
arrears, interest and other charges and
reduction of the purchase price. You hereby irrevocably undertakes to
pay all instalments and charges by
means of a
instalments due in terms of this Credit Finance Agreement are payable
on the first day of each month, and shall be made without deduction,
free of exchange, bank and other charges, at the Trading Company's
place of business, or
place as the Trading Company may direct in writing from time to time.
Trading Company may cede or assign or make over to any other person,
all or part of any amounts due and owing in terms hereof.
1.10 You may
prepay any amount on your account, in which case such payment shall
be allocated first to unpaid interest, then unpaid fees or charges
and thereafter to reduce the principal debt.
provisions of this Credit Finance Agreement are applicable to and as
for as long as you still have any amount
owing on your
you die prior to the termination of this Credit Finance Agreement,
then the outstanding balance on your capital account will be deemed
to have been settled in full, provided that:
are 65 years or younger as at the date of death;
were up to date with all your obligations in terms hereof;
death was not as a result of suicide nor a medical condition
pre-existing at the time of you entering into this
Finance Agreement; and
satisfactory proof of death is provided to the Trading Company within
60 days of the event.
1.13 It is a
condition of this Credit Finance Agreement that you bind yourself to
the terms and conditions of membership of
Club as set out in the Application for Membership attached.
2.1 In the
event of you breaching any of your obligations in terms of this
Credit Finance Agreement, the Trading
give you 10 days' written notice:
refer the default to a debt counsellor or alternative dispute
resolution agent, and should you not respond, or
notice, the Trading Company shall have the right to enforce your
obligations in terms of the Credit Finance
through the courts of law; or
remedy your breach, failing which the Trading Company may forthwith
cancel this Credit Finance Agreement and your Points and all rights
attaching thereto, and subject to any limitation in law, retain as
agreed pre-liquidated damages, all monies already paid by you,
without prejudice to any rights to recover from you any damages as it
may have sustained as a result of your breach.
Trading Company may recover from you any costs incurred, whether
consequent upon notice, enforcement,
or sale, attorney's or debt collection agent's fees, arrear
interest as allowed by law and collection
which may be due in terms of the law.
consent to the Trading Company listing you with any credit bureau
should you be in default, despite notice or any
taken against you in terms of the above, on payment of any amount due
from time to time in terms of this
acknowledge that the Trading Company may have an information sharing
practice with the credit bureau and to this extent :
confirm that the Trading Company may transmit to the credit bureau
data about this application, and the opening and termination of this
Credit Finance Agreement;
confirm that non-compliance with the terms and conditions of this
Credit Finance Agreement may be
to the credit bureau;
current credit bureau of the Trading Company is Trans Union which may
be contacted on (011) 214 6100;
acknowledge the fact that the credit bureau provides a credit profile
and possibly a credit score on credit worthiness of the person
subject to the record;
have the right to contact the credit bureau, have the credit record
disclosed and to correct inaccurate information.
Trading Company shall be entitled to charge you (if you are in
arrears) with a default administration fee in the amount prescribed
by law from time to time.
Trading Company shall be entitled to charge collection costs
prescribed by law from time to time in respect of the
of a your monetary obligations in terms of this Credit Finance
Credit Finance Agreement constitutes the sole basis of the contract
between the Trading Company and you.
agreement between you and the Trading Company to cancel, alter or add
to this Credit Finance Agreement, shall
be of no
force or effect unless reduced to writing and signed by the parties.
you not be totally satisfied with his purchase and wish to rescind
this Credit Finance Agreement within the five day revision period
then you may do so by giving written notice to the Trading Company at
their given address, which notice must be received by them within
five working days of you having signed this Credit Finance Agreement.
3.4 You may
settle or terminate this Credit Finance Agreement by paying the sum
of the unpaid balance of the principal debt and all unpaid interest
charges and other fees and charges then payable.
3.5 You may
surrender your Points to the Trading Company by giving the Trading
Company - ten day's written notice and completing the prescribed
transfer documents. The Trading Company will then advise you within
ten days of such notice of the estimated value of the Points on
re-sale. Unless you withdraw your notice within a further ten days
thereafter, the Trading Company will endeavour to sell the Points
Rights and your account will be credited or debited with the proceeds
of the sale, less any expenses reasonably incurred. You will be
obliged to pay the Trading Company any shortfall on your account
before the Trading Company sells your Points.
3.6 You have
the right to resolve a complaint by way of alternative dispute
resolution, to file a complaint with the National Credit Regulator,
to make an application to the Tribunal and to make application to a
debt counsellor for debt review in the manner prescribed in the Act.
contact details of the National Credit Regulator and the Tribunal
are: PO Box 2694 Houghton 2041 or (011) 6474400.
3.8 If any
provision of this Credit Finance Agreement offends any law applicable
to it and is as a consequence illegal, invalid or unenforceable then:
the offending provision can be read down so as to give it a valid and
enforceable operation of a partial nature, it must be read down to
the extent necessary to achieve that result;
3.8.2 in any
other case, the offending provision must be severed in which event
the remaining provisions of this Credit Finance Agreement and these
terms and conditions shall operate as if the severed provision had
not been included.
3.9 If you
are in possession of your original Points certificate, you are
required by law to disclose its location to the Trading Company.
indulgence shown, extension or right waived, shall in no way operate
as estoppel against the Trading Company nor in any way limit their
rights hereunder, or modify or alter same.
required to be given by one party to another, shall be deemed to have
been given as if addressed to the relevant party at the address set
out in schedule 1. Such notice shall be deemed to have been duly
received, if delivered personally to the addressee, or if posted by
pre-paid post within the Republic of South Africa, 7 days after the
date of despatch.
5 Agent or
If you sign
this Credit Finance Agreement on behalf of a company, close
corporation, trust or partnership which is
existence, then you hereby bind yourself as surety and co-principal
debtor for the due and punctual performance by the company, close
corporation, trust or partnership of all its obligations in terms of
this Credit Finance Agreement.