•IHC is a points-based vacation club (Club) in which members own member points and have a beneficial interest in the Club assets.
•The Club was established for a term of 20 years, which expires on 31 December 2040.
•At the expiry of the term, the Club will be liquidated and the assets sold.
•On liquidation, members are entitled to the net proceeds of sale, in proportion to the points the member owns at the time. However, returns are not guaranteed.
•度假会资产的法定所有人是注册在香港的Club Wyndham Asia (HK) Limited，简称(“ClubCo”)
•The legal owner of the assets is Club Wyndham Asia (HK) Limited (ClubCo), a company registered in Hong Kong.
•ClubCo的唯一控股人是注册在新加坡的专业信托公司Perpetual Limited ，官网https://www.perpetual.com.sg/。
•The sole shareholder of ClubCo is Perpetual Limited, a professional trustee based in Singapore. Their website is https://www.perpetual.com.sg/
•IHC is a lifestyle product and should not be purchased for the purposes of profit-making or investment.
•Trustee (Perpetual) holds the assets of the Club on trust on behalf of the IHC members (beneficiaries).
•The Trustee must comply with the law and act in the best interests of IHC members.
How can you assure me that the beneficial interest will be protected over the 20-year term and that there will be no overselling of points?
The IHC Constitution governs all aspects of the operations and running of the Club.
The Constitution provides that the total IHC Member Points sold must not exceed the total points allocated to all the Club properties.
How will members receive the net proceeds of sale (if any) when IHC is wound up? Are there any historical practices which can be shared?
On liquidation, after paying out all liabilities of IHC, including costs and expenses of the liquidation, any remaining funds, being the net proceeds will be distributed by the Trustee,
Perpetual, to members in proportion to the credits that they own at the time.
The Trustee will distribute such monies (if any) to the members’ bank accounts provided by the members. Payment will be subject to the relevant local laws and regulations, as well
as the members’ tax obligations under relevant laws of the People’s Republic of China. Payment would be made in the same currency as members used to buy their membership.
Whilst there is no historical practice, the Trustee will and must comply with the contract and the law and regulations.
Is there any specific property allocated to member points such that they may be entitled to receive the proceeds of sale from that property?
The members have beneficial interests in all the IHC assets and are entitled to pro rata distribution of the net proceeds of the sale of the assets (if any) that are in IHC that at the end
of the term. Members do not have a beneficial interest in any individual or specific asset.
Are the assets and beneficial interest protected by law in China?
Yes, under PRC law, a contract established in accordance with the law is legally binding on the parties.
Will I have a share in the legal title of all Club property after becoming a member in the Club?
Members have no legal title of the properties in IHC. Members have a benefi