LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 47 Frequency of rent reviews

LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 47

    (1)     A lease provision is void if it allows a change to be made to rent more than once in each 12 month period after the first anniversary of the commencement of the lease.

    (2)     However, subsection (1) does not affect—

        (a)     a sublease provision that allows the sublessor to pass on to the subtenant an increase in the rent of the head lease; or

        (b)     a provision that sets out the steps (whether by amount or percentage) that rent will increase by at predetermined times during the lease; or

        (c)     a provision that allows a change to be made to rent directly or indirectly attributable to GST; or

        (d)     a provision that allows abatement of rent; or

        (e)     a provision that allows review of rent on the exercise of an option to extend the lease; or

        (f)     an adjustment to turnover rent allowed under section 63 (Frequency of adjustments to turnover rent).