New South Wales Consolidated Acts

RETAIL LEASES ACT 1994 - SECT 72AB

72AB Powers of Tribunal relating to appointment of specialist retail valuers

(1) The Tribunal may appoint:

(a) a specialist retail valuer, on application under section 19 or 31, or

(b) two specialist retail valuers, on application under section 32A.

(2) The appointment of a specialist retail valuer is to be made from separate lists of nominees prepared separately by the persons for the time being holding or acting in the offices of President of the Australian Property Institute (NSW) and President of the Real Estate Institute (NSW).

(3) The parties to the lease concerned are to pay the costs of the application to the Tribunal in equal shares.

(4) The Tribunal may attach such conditions as it considers appropriate to the appointment of a specialist retail valuer, including conditions about the fees that may be charged by the valuer in connection with valuations under this Act.

(5) No matter or thing done or omitted to be done by a specialist retail valuer appointed by the Tribunal subjects the valuer to any action, liability, claim or demand if the matter or thing was done in good faith for the purposes of a determination of rent by valuation carried out by a specialist retail valuer under section 19, 31 or 32A.