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LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 129 Provision and use of turnover figures

LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 129

Provision and use of turnover figures

    (1)     The lessor must not require the tenant to supply periodic turnover figures unless the lease provides that rent is to be worked out by reference to turnover.

    (2)     The lessor must not divulge or communicate a tenant's periodic turnover figures to anyone except—

        (a)     to the tenant or tenant's guarantor; or

        (b)     with the consent of the tenant or the tenant's guarantor; or

        (c)     in a document giving aggregate turnover information about a shopping centre or part of a shopping centre in a way that does not disclose information about the turnover of an individual tenant's business; or

        (d)     to a court or tribunal; or

        (e)     for mediation, a hearing or valuation for this Act; or

        (f)     in compliance with a requirement made under this or another law or an order of a court; or

        (g)     to the lessor's professional advisers; or

Example—professional advisers

legal or financial advisers

        (h)     to a financial institution to allow the lessor to obtain or continue to receive financial accommodation or to comply with a condition imposed by the financial institution in relation to a financial accommodation; or

              (i)     honestly to a prospective purchaser of the shopping centre or part of the shopping centre.

    (3)     A person who receives information under this section may only use the information for the purpose for which it was given and may not further disclose the information except with the tenant's consent.