Division of Revenue Act, 2011
R 385
Property Time-Sharing Control Act, 1983 (Act No. 75 of 1983)12. Regulations |
| (1) | The Minister may make regulations— |
| (a) | prescribing the information to be disclosed in any advertisement regarding the alienation of time-sharing interest; |
| (b) | prescribing the information which should be disclosed in writing by a seller to a purchaser prior to the signature of any contract by a purchaser; |
| (c) | prescribing the rate of interest for the purposes of section 9 (1) (a) (i); |
| (d) | regarding the control over and the operation of property time-sharing schemes, including the payment of levies by purchasers and the establishment of levy funds; |
| (e) | regarding the exemption of any person or category of persons from any provision of this Act; |
| (f) | regarding any matter which is required or permitted to be prescribed under this Act, or which is considered necessary or expedient to be prescribed in order to achieve the objects of this Act; |
| (g) | prescribing that the whole or any part of the Alienation of Land Act, 1981 (Act No. 68 of 1981), shall or shall not apply to transactions to which this Act applies. |
| (2) | Any regulation made under this section may prescribe penalties for any contravention thereof or failure to comply therewith, not exceeding a fine of R1 000 or imprisonment for a period of one year. |
