Licence

(1) Where the Registrar registers any premises as a timeshare accommodation in accordance with section 8 of this Act, he shall issue to the developer a licence in the prescribed form and containing such terms and conditions as may be determined by him. (2) Any person who fails to comply with any term or condition imposed in a licence commits an offence and shall be liable on summary conviction to a fine of five thousand dollars or to imprisonment for a term not exceeding one year, or to both such fine and term of imprisonment. (3) Every licence shall be valid for one year and shall expire on 31 “December of the year in which it was issued, but may be renewed for a further like period under this Act: 16 Provided that licences issued immediately after the coming into operation of this Act shall expire on the 31st December of the year next following. (4) The Registrar may, on his own motion or at anytime upon a written application by a licensee, vary any terms or conditions of a licence, Provided that the Registrar shall not of his own motion vary any terms or conditions of a licence without first giving the licensee no less than seven days written notice delivered to the registered office of the licensee informing the licensee of his intention to vary any terms or conditions of the licence, and shall take into account any representations made by or on behalf of the licensee before making the variation.