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LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 96 Lessor may require relevant information and documents

LEASES (COMMERCIAL AND RETAIL) ACT 2001 - SECT 96

Lessor may require relevant information and documents

    (1)     Within 14 days after receiving a request under section 95, or after a further period agreed by the parties, the lessor may, in writing, ask the tenant to provide the lessor with further information or documents.

    (2)     If the tenant's request is for consent to an assignment or sublease, the lessor may only request 1 or more of the following:

        (a)     information about the financial standing of the prospective assignee or subtenant, including details of any approved finance of the prospective assignee or subtenant;

        (b)     information about the financial standing of any prospective guarantor for the prospective assignee or subtenant;

        (c)     a certificate of occupancy for the premises;

        (d)     information about the business skills of the prospective assignee or subtenant;

        (e)     information about the proposed use of the premises by the prospective assignee or subtenant;

        (f)     references relating to the ability of the prospective assignee or subtenant to operate the business, or proposed business, on the premises.

    (3)     If the tenant's request is for consent to the mortgage of the lease, the lessor may only request 1 or more of the following:

        (a)     information about the identity and financial standing of the proposed mortgagee;

        (b)     details of the loan or other obligation to be secured by the mortgage including, if applicable, the amount of the loan, the purpose to which it is proposed the loan amount be used, the term of the loan, the repayment schedule for the loan and the powers that may be exercised by the mortgagee under the mortgage.