Which act governs the activities of TICO?

The Travel Industry Council of Ontario (TICO) operates under the governance of the Travel Industry Act, which was established to regulate travel agencies and wholesalers in Ontario. The correct answer references the Travel Industry Act, 2002, specifically designed to enhance consumer protection in the travel industry and set forth standards for the conduct of travel-related businesses.

This act outlines the requirements for registration, the responsibilities of registrants, and provides mechanisms for consumer complaints and compliance enforcement, ensuring that consumers are treated fairly and have recourse in the event of issues with travel services. The choice referring to the earlier year does not apply, as the 2002 version replaced and updated previous regulations to meet evolving industry needs.

Understanding the nuances of legislation such as this is crucial for anyone operating in the travel sector, as it lays the framework for ethical business practices and consumer rights, which are essential for fostering trust and safety in travel transactions.