Tourism Law in Europe

embodied in Ley 4/2012, de 6 de julio, de contratos de aprovechamiento por turno de bienes de uso turístico, de adquisición de productos vacacionales de larga duración, de reventa y de intercambio y normas tributarias 8 (Law 4/2012, of July 6, on timesharing contracts, the acquisition of long-term holiday products contracts, the resale and exchange contracts, and tax regulations). Law 4/2012 reflects the aspirations of the new Directive: it is based on the appearance of new vacation products; it completes gaps and is more harmonised with the internal regulations of the States. In addition, the new Directive reinforces information to the consumer, regulates with greater precision the periods of exercise of the right of withdrawal, insists and extends the prohibition of payment of advances during the period of exercise of such right, requires a payment schedule for long-term contracts and determines the ineffectiveness of certain financing loans in the event of withdrawal. At the same time, Law 4/2012 complies with the mandate of Directive 2008/122/ EC to organise judicial and administrative redress for consumer rights, to promote the development of codes of conduct, to make possible the creation and development of adequate and effective extrajudicial procedures for the solution of consumer disputes and to establish a system of effective, proportionate and dissuasive sanctions in the event of non-compliance by employers with national provisions 9 . III. Law 4/2012, of July 6 III.1. Scope of application of Law 4/2012 a) Objective scope of application Chapter I contains the provisions designed to delimit the scope of the Law 2/2012. The objective scope includes the definition of the four contractual figures, regulated in the same terms as the Directive and which are the contracts for the use of goods for tourist use, the acquisition of long-term holiday products, resale and exchange. Regarding the timesharing contract, Law 4/2012 defines it in article 2 as the contract “of duration greater than one year by virtue of which a consumer acquires, for 8 BOE no. 162, 7 July 2012 9 Vid. Preamble I of the Law 4/2012.