RETAIL AND COMMERCIAL LEASES ACT 1995 - SECT 20

RETAIL AND COMMERCIAL LEASES ACT 1995 - SECT 20

20—Repayment of security

        (1)         An application may be made to the Commissioner for—

            (a)         payment of the whole amount of the security either to the lessor or the lessee; or

            (b)         payment of a specified amount of the security to the lessor and the balance to the lessee.

        (2)         The application—

            (a)         must be in a form approved by the Commissioner; and

            (b)         may be made jointly by the lessor and the lessee or by either the lessor or the lessee.

        (3)         If the application is undisputed, the Commissioner must pay out the amount of the bond as specified in the application.

An application is "undisputed" if it is a joint application by the lessor and the lessee; or an application by the lessor that the whole of the amount of the security be paid to the lessee; or an application by the lessee that the whole of the amount of the security be paid to the lessor. An application that does not fall into any of those categories, is "liable to be disputed .

        (4)         If an application is liable to be disputed, the Commissioner must give the respondent written notice of the application (in a form the Commissioner thinks appropriate) and inform the respondent that, if the respondent wants to dispute the application, a written notice of dispute must be lodged with the Commissioner within 14 days after service of the notice on the respondent.

If the application was made by the lessor, the lessee is the respondent; if the application was made by the lessee, the lessor is the respondent.

        (5)         If the respondent does not give the Commissioner written notice of dispute within 14 days after the date of the Commissioner's notice (ie the notice under subsection (4)), the Commissioner may pay out the amount of the security as proposed in the application.

        (6)         If the Commissioner receives a written notice of dispute before the amount of the security bond is paid out under subsection (5), the Commissioner must refer the dispute to the Magistrates Court for determination.

        (7)         A payment under this section will be made from the Fund.