Baker Hostetler Denver partner David Waller authored “Legislative Brief: Asia,” published in the April/May 2011 issue of Developments, the magazine of the American Resort Development Association.
Waller briefly discusses two positive regulatory developments in China and India over the last year (i) the Tourism Development Analysis and Forecast 2010 in China which predicted rapid developments in time-share, signaling positive official recognition and (ii) Mahindra Holidays & Resorts, Ltd., in India which prevailed in a tax dispute that will allow it to defer a portion of the timeshare membership fee received upon sale to subsequent reporting periods.Unfortunately, complaint reports from Consumer Association of Singapore (CASE) indicate efforts at self-regulation in Asia may be failing. According to Waller, unless the industry works with Asian governments to craft workable regimes that address the concerns of developers, consumers and regulators the industry is susceptible to laws enacted in response to crisis.