(1) This section applies to the lessor under a
retail shop lease that provides for the establishment of a sinking fund to
fund provision for major items of repair or maintenance.
(2) The lessor must
not establish more than one sinking fund at any one time in respect of retail
shop leases for retail shops situated in the same building or retail shopping
centre.
(3) The lessor must not require or accept contributions to the
sinking fund in respect of any retail shop situated in a retail shopping
centre that total an amount that exceeds 5% of the total of the lessor's
estimated outgoings for the year concerned in respect of the retail shopping
centre.
(4) The lessor must not require or accept contributions by a lessee
to the sinking fund if the amount outstanding to the credit of the sinking
fund is more than $250,000.
