744 TOURISM LAW IN EUROPE Thus, in Spain, timesharing is configured following the legal nature of limited real rights, which configures its legal framework. II. NORMATIVE EVOLUTION Directive 94/47/EC of the European Parliament and the Council of 26 October 1994 on the protection of purchasers in respect of certain aspects of contracts relating to the purchase of the right to use immovable properties on a timeshare basis4 was transposed into the Spanish legal system through Law 42/1998, of 15 December, on timesharing and tax regulations5. It is worth noting that this law adopted the name “derechos de aprovechamiento por turnos de bienes inmuebles de uso turístico” (profit per turn of real estate for tourist use), rejecting the “timeshare” as inappropriate. The legislator then asked himself if several institutional forms should be regulated or if their regulation should be limited to just one, leaving all the others outside the law. An intermediate formula was chosen, consisting of the detailed regulation of a new real right. However, it allowed the configuration of the right as a variant of the seasonal lease6. Directive 94/47/EC was repealed by Directive 2008/122/EC of the European Parliament and of the Council of 14 January 2009 on the protection of consumers in respect of certain aspects of timeshare, long-term holiday product, resale and exchange contracts (Text with EEA relevance)7, whose transposition to the Spanish legal system was embodied in Law 4/2012, of 6 July, on timesharing contracts, the acquisition of long-term holiday products contracts, the resale and exchange contracts, and tax regulations8. 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 régimen de aprovechamiento por turno de bienes inmuebles de uso turístico”, in Revista CESCO de Derecho de Consumo, No. 3/2012, p. 2. 4 OJ L 280, 29.10.1994. 5 Ley 42/1998, de 15 de diciembre, sobre derechos de aprovechamiento por turnos de bienes inmuebles de uso turístico y normas tributarias; BOE no. 300, 16 December 1998 6 Vid. Preamble II Law 4/2012. 7 OJ L 33, 3.2.2009. For a detailed study of the Directive, vid. P. Munar Bernat, “Estudio sobre la Directiva 2008/122/CE, de 14 de enero de 2009, relativa a la protección de los consumidores en los contratos de aprovechamiento por turnos de bienes de uso turístico”, Indret: Revista para el Análisis del Derecho, ISSN-e 1698-739X, No. 4, 2009. 8 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; BOE no. 162, 7 July 2012
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