The inquiry into timeshare investment will get to the bottom of the issues raised by complainants, is the assurance from Consumer Commissioner Ebrahim Mohamed as the National Consumer Commission’s (NCC) first round of public hearings into the timeshare industry got under way.

The hearings flow from ‘thousands of complaints’ relating to the points system and contracts in perpetuity which are not governed by the Consumer Protection Act, according to a Fin24 report. At a public information and evidence gathering session, which started on Monday, consumers complained that vacation club companies failed to deliver on their promises.

Mohamed reportedly told Fin24 yesterday that the inquiry aims to get a ‘holistic view’ of the industry in order to resolve the issues which have persisted for years. ‘By law, consumers are bound by their contracts, and this is why timeshare companies have been able to get away with this type of conduct for so many years,’ he is quoted as saying.

Full Fin24 report