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LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 63 Frequency of adjustments to turnover rent

LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 63

Frequency of adjustments to turnover rent

Unless the parties to a lease otherwise agree, a party may make a request under a provision included in a lease because of section 62 for adjustment of turnover rent—

        (a)     only once in the first year of the lease term; and

        (b)     at intervals of not less than 1 year after the first request for an adjustment under the lease.