29. 10. %94 Official Journal of the European ‘Comvt.nunities A No L 28_0/83 DIRECTIVE 94/47/EC -OF THE EUROPEAN PARLIAMENT AND THE COUNCIL of. 26 October 1994 on the protection of purchasers in respéect of certain aspects of contracts relatlng _to th(e‘purchase of the rlght to use lmmovable propertles on a timeshare basrs THE EUROPEAN PARLIAMENT AND THE COUNCIL OF. .. . THE EUROPEAN UNION, Having regard to the Treaty establishing\ the European Community, and in particular .Article. 100a thereof, Having regard to the proposal from the Ccn‘xmission ", Having regard to the opinion of the Economic and Social Committee (%), Acting in accordance with the procedure laid down in Article 189b of the Treaty (%), 1. Whereas the dlspantles between national legislations on contracts relating to the purchase of the right to use one or more immovable properties on a time-- share basis are likely to create barriers to the proper operation of the internal market and distortions of competition and lead to the compartmentahzanon of national markets ; H 2. Whereas the aim of this Directive is to establish a - minimum basis of common rules on such matters which will make it possible to - ensure that the . internal market operates properly and will thereby protect purchasers ; whereas it is sufficient for those rules to cover contractual transactions only ' with regard to those aspects that relate to information on the constituent parts of contracts, the arrangements - for communicating such information and the proce- dures and arrangements for cancellation and with- drawal; whereas . the appropriate instrument to achleve that aim is a Directive ; whereas this Direc- _tive is therefore consistent with the principle of sub-- sidiarity ; 3. Whereas the legal nature of the nghts whlch are. the' . sub]ect of the contracts covered by this Directive varies - considerably from one Member State to another ; whereas reference should therefore be made in summary form to those variations, giving a suffici- . ~ently broad definition of such contracts, without - thereby implying harmonization within the Com- munity of the 1egal nature of the nghts in questlon ; 4. Whereas thls Dlrectlve is not designed to regulate the extent to which contracts for the use of one ormore" immovable properties on a timeshare basis may be () OJ No C 299, 5. 11. 1993, p. 8. () OJ No C 108, 19. 4. 1993, p. 1. () Opinion of the European Parliament of 26 May 1993 (O_] No C'176, 28. 6. 1993, p. 95 and OJ No C 225, 20. 9 1993, p. 70) confirmed on 2 December 1993 (OJ No C 342, 20. 12. 1993, p- 3); Council common position of 4 March 1994 (OJ No c 137, 19. 5. 1994, p. 42) and decision of the European Parli- ament of 4 May 1994 (OJ No: C 205, 25. 7. 1994). _]om text of the Conciliation Committee of 22. 9. 1994. 5. ‘concluded in Member. States or the legal basis for “such contracts, ’ Whereas, _in  practice, contracts relating to the purchase of the: right to use one or more immovable properties on-a timeshare basis differ from tenancy agreements ; ‘whereas that difference can be seen _from, inter alia, the means of payment; . Whereas it»rnay be seen from the market that hotels, residential -hotels and other similar residential tourist premises are. involved in contractual - transactions. similar to. those wh1ch have made this Directive necessary, ) . Whereas it is necessary to avoid  any mlsleadlng or incomplete .details in information concerned specifi- cally with the sale of the rights to use one or more " immovable ‘properties on a timeshare basis ; whereas -10. such information should be supplemented by a docu- ‘ment which must be made available to anyone who requests it; whereas the information therein must constitute part of the contract for the p’urchase of the right to use one or more immovable propertles on a - timeshare basrs, - . Whereas; -'in 'order to give purchasers a high level of _protection and in view of the specific characteristics * of systems for using immovable properties on a time- share ba51s contracts for the purchase of the right to _use one or more “immovable prbpertles on a time- : share basrs must mclude certaln mmlmal items ; . Whereas, with a view to. estabhshmg effective protec- - ‘tion for purchasers in._this -field, it is necessary to stipulate minimum obllgatlons with which vendors - must comply Vis-A-vis, purchasers Whereas the contract ’fOr“the‘ purchase of the right to use one or more¢ immovable: properties on a time- " share basis' must be drawn up in the official language or one of the official languages of the Member State in which 'the -purchaser is resident or in the official language or one: of.the -official languages of the Member State of which he is a national which must -be one of the: official languages of the Community ; ‘wheréas; howeVer, the" Member State in which the purchaser is resident may require that the contract be drawn up in its language or its languages which must be an official language or official languages of the Community ; whereas provision should be made for a certified translation of each contract for the purposes of the formalities to be completed in the Member State in which the relevant property is situated ;