The Responsible Entity has, pursuant to the Developer Agreement, appointed A.P.V.C. Nominees Pty Ltd in its capacity as nominee for Accor Resorts Management Pty Ltd as the Developer of the Club. The Developer is responsible for the developer duties listed in the Constitution, including making recommendations and assisting with funding for the acquisition of Club Property. The Developer has been provided with the Developer Memberships by the Responsible Entity.
he Club commenced operation in Australia in 2000 and was Australia’s first hotel branded holiday ownership club. It is a Managed Investment Scheme registered with and regulated by the Australian Securities and Investments Commission (ASIC) in accordance with Chapter 5C of the Australian Corporations Act.
The relationship between the Club and its Members is governed by the Club’s Constitution. Among other things, the Constitution provides that Club Property is to be held by its Responsible Entity on trust. The Constitution also confers on Members a beneficial interest in Club Property proportionate to their level of Membership.
The term of the Club is 80 years from its commencement on 10 October 2000. This term may be extended by a special resolution of the Members at the end of this period, or if not it will be wound up.