Investor Presentaiton
[Rev. 2016]
No. 46 of 2012
Consumer Protection
personal development services unless the new agreement is for personal
development services that are distinctly different from the services provided under
the existing agreement.
(2) Any new agreement entered into in contravention of subsection (1) is void.
(3) For the purposes of subsection (1), a different term or a different
commencement date does not constitute a distinct difference in the personal
development services to be provided.
(4) Nothing in this section prevents a personal development services
agreement from being renewed during the term of the agreement provided that the
renewal meets the requirements under section 24.
27. Initiation fee
No supplier of personal development services shall-
(a) charge a consumer more than one initiation fee; or
(b) charge an initiation fee that is greater than twice the annual
membership fee.
28. Installment plans
(1) Every supplier of personal development services shall make available to
consumers at least one plan for installment payments of membership fees and
initiation fees, if applicable, that allow consumers to make equal monthly payments
over the term of the personal development services agreement.
(2) No supplier shall provide an installment payment plan through which the
total amount paid by installments exceeds the membership or initiation fee, if
applicable, by more than twenty-five per cent.
29. Cancellation: cooling-off period
(1) A consumer may, without any reason, cancel a personal development
services agreement at any time within ten days after the later of receiving the written
copy of the agreement and the day all the services are available.
(2) In addition to the right under subsection (1), a consumer may cancel
a personal development services agreement within one year after the date of
entering into the agreement if the consumer does not receive a copy of the
agreement that meets the requirements under section 24.
30. Trustee for payment for unavailable services
(1) No supplier shall receive payment from a consumer for personal
development services that are not available at the time the payment is made.
(2) Subsection (1) does not apply when one of the services that is not available
is the use of a facility and the consumer has agreed in writing to use another facility
provided by the supplier until the facility contracted for is available.
(3) If a facility is not available for use on the day specified in the agreement, the
trustee shall refund all payment received from the consumer unless the consumer
agrees in writing to permit the trustee to retain the payment.
(4) No permission given under subsection (3) applies for longer than ninety
days but a subsequent permission may be given on the expiration of permission.
(5) Where a supplier has a trustee under subsection (1)—
(a) any notice to the trustee shall be deemed to be notice to the supplier;
and
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