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LEASES (COMMERCIAL AND RETAIL) ACT 2001

LEASES (COMMERCIAL AND RETAIL) ACT 2001


TABLE OF PROVISIONS

           Long Title

   PART 1--PRELIMINARY

   1.      Name of Act  
   3.      Notes  

   PART 2--INTERPRETATION

   4.      Dictionary  
   5.      When is a lease entered into to work out timing for obligations under this  
   6.      When is a lease taken to be renewed for this Act?  
   7.      When are premises commercial or retail premises?  
   8.      What are shopping centres?  
   9.      What is a change of use lease?  
   10.     What is a continuous occupation lease?  
   11.     What is an excluded area?  

   PART 3--APPLICATION

   12.     What leases does this Act apply to?  
   13.     How to work out the lettable area of premises  
   14.     Application to change of use leases  
   15.     Is assignment the same as entering into lease for working out application of  
   16.     Application of Act to pre-existing leases on registration of units  
   17.     Disputes  
   18.     Disputes about leases no longer in force  

   PART 4--RELATIONSHIP BETWEEN ACT AND LEASES

   19.     Void provisions  
   20.     Included provisions  
   21.     Recovery of GST  

   PART 5--CONDUCT OF PARTIES

   22.     Prohibited conduct in dealings  
   23.     Lease costs  
   24.     Notice of acceptance of lease offer  
   25.     Provision of copy of lease to tenant  
   26.     Independent legal advice  
   27.     Tenant not required to pay fees  

   PART 6--NEGOTIATIONS

   28.     Copy of proposed lease to be provided  
   29.     Notice—short minimum term  
   30.     Disclosure statements  
   31.     Form of disclosure statements  
   32.     Return of disclosure statement  
   33.     Disclosure statement and acknowledgment not lease or offer  
   34.     Notice of material changes  
   35.     Notice about handbook  
   36.     False or misleading representations  
   37.     Compensation for negotiation misrepresentations  
   38.     Key money prohibited  

   PART 7--BONDS AND GUARANTEES

   39.     Maximum level of bond  
   40.     Guarantees and indemnities  
   41.     Bank guarantee as bond  
   42.     Dealings with bonds  
   43.     Deductions from bonds  
   44.     Repayment of bonds  
   45.     Return of guarantees  

   PART 8--RENT

           Division 8.1--General

   46.     Discretionary rent review  
   47.     Frequency of rent reviews  
   48.     Commencement of payment for rent  
   49.     Rent setting or review if lease method void  
   50.     Lease to state date rent review due  
   51.     Rent on renewal  
   52.     Market rent—rent reviews, options and renewals  
   53.     Valuation to work out market rent  
   54.     Working out market rent  
   55.     Rent pending valuation—rent reviews and options to extend  
   56.     Extension if rent on renewal to be worked out  
   57.     Appointment of new valuer if conflict of interest disclosed  
   58.     Appointment of new valuer in other cases  
   59.     Disclosure of concessions  
   60.     Costs of valuations  

           Division 8.2--Turnover rent

   61.     Combination of base and turnover rent acceptable  
   62.     Adjustments to turnover rent  
   63.     Frequency of adjustments to turnover rent  
   64.     Working out turnover rent  

   PART 9--OUTGOINGS

   65.     Outgoings—estimates and expenditure statements  
   66.     Outgoings—reports  
   67.     Adjustment of contributions to outgoings  
   68.     Methods of accounting  
   69.     Commencement of payment for outgoings  
   70.     Recoverable outgoings  
   71.     Recovery of outgoings  
   72.     Retail areas of shopping centres—waiving auditor's  

   PART 10--BUILDING ALTERATIONS AND RELATED MATTERS

   73.     Employment restriction  
   74.     Refurbishment of premises  
   75.     Undisclosed contributions  
   76.     Capital costs  
   77.     Depreciation  
   78.     Demolition  
   79.     Alterations and refurbishments to or affecting premises  
   80.     Emergency alterations  
   81.     Compensation for disturbance  
   82.     Compensation to reflect any concessions  
   83.     Shopping centre enlargement not grounds for compensation  
   84.     Damaged premises unable to be used  
   85.     Damaged premises able to be used  
   86.     Dispute about payment or nonpayment of rent and outgoings  
   87.     Dispute about useability of damaged premises  
   88.     Notice of lessor's intentions regarding repair  
   89.     Termination by lessor because of damage  
   90.     Termination by tenant because of damage  
   91.     Compensation for incomplete repair  
   92.     Agreement to terminate  

   PART 11--ASSIGNMENTS, SUBLEASES AND MORTGAGES

   93.     Provision of disclosure statement by tenant  
   94.     Lessor to provide disclosure statement  
   95.     Request for consent to assignment, sublease or mortgage  
   96.     Lessor may require relevant information and documents  
   97.     Mortgagees and head lessors  
   98.     Unreasonable refusal by mortgagee or head lessor  
   99.     Lessor's consent or refusal  
   100.    Refusal to consent to assignment or sublease  
   101.    Refusal to consent to mortgage of lease  
   102.    Lessor may recover costs  
   103.    Tenant and guarantor released from liability  

   PART 12--EXTENSION, RENEWAL AND TERMINATION OF LEASES

           Division 12.1--Extension

   104.    Minimum 5 year lease  
   105.    Terms of extended leases  

           Division 12.2--Renewal

   106.    Objects of div 12.2  
   107.    Lessor's intentions about renewal  
   108.    Rules of conduct at end of lease term for shopping centre leases  
   109.    Implementation of preferential right  
   110.    Notice of absence of right of preference  
   111.    Certified exclusionary clauses  
   112.    Fair dealing between lessor and tenant about renewal of shopping centre  

           Division 12.3--Termination generally

   113.    Other rights etc unaffected by termination  
   114.    Termination by agreement  
   115.    Abandonment  

           Division 12.4--Termination by tenant

   116.    Tenant's right to terminate extended lease  
   117.    Right to terminate—no disclosure statement etc  
   118.    Failure to notify material change in disclosure statement  
   119.    Lessor may contest termination  
   120.    Effect of uncontested termination notice  
   121.    Effect of contested termination notice  

           Division 12.5--Termination by lessor

   122.    Procedure for termination of lease by lessor etc  
   123.    Confirmation of contested termination  
   124.    Confirmation of uncontested termination  
   125.    Content of termination orders  
   126.    Content of warrants for eviction  
   127.    Issue of warrants for eviction  

   PART 13--RETAIL AREAS OF SHOPPING CENTRES

   128.    Application of pt 13  
   129.    Provision and use of turnover figures  
   130.    Statistical information to be available to tenant  
   131.    Advertising and promotion levy—new leases  
   132.    Advertising and promotion levy—other leases  
   133.    Amount not spent to be kept for benefit of tenants  
   134.    Non-specific outgoings contribution  
   135.    Consultation before redevelopment  
   136.    Relocation clauses  
   137.    No relocation other than for repairs, refurbishment, redevelopment or  
   138.    Relocation for repairs, refurbishment, redevelopment or extension  
   139.    Changing core trading hours  
   140.    Tenants trading outside core trading hours  
   141.    Geographical restrictions void  
   142.    No termination for inadequate sales  

   PART 14--DISPUTE RESOLUTION

   143.    Definitions for pt 14  
   144.    Jurisdiction  
   145.    Applications that may be made  
   146.    Timing of rental applications  
   147.    Action on receiving application  
   148.    Resolution of dispute likely  
   149.    Resolution of dispute unlikely  
   150.    Hearings  
   151.    Procedures  
   152.    Transfer to Supreme Court  
   153.    Notice of orders  
   154.    Costs  
   155.    Appeals to Supreme Court  

   PART 15--MISCELLANEOUS

   157.    References to repealed Act or code  
   157A.   Approved forms  
   158.    Regulation-making power  
           SCHEDULE 1
           DICTIONARY
           ENDNOTES