Regulation 10 Exchange contracts
(1)
An “exchange contract” means a contract between—
(a)
a consumer who is also party to a timeshare contract, and
(b)
a trader,
under which the consumer, for consideration, joins a timeshare exchange system.
(2)
A “timeshare exchange system” is a system which allows a consumer access to overnight accommodation or other services in exchange for giving other persons temporary access to the benefits deriving from the consumer's timeshare contract.