RETAIL LEASES ACT 2003

Victorian Consolidated Legislation

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RETAIL LEASES ACT 2003

No. 4 of 2003
Version incorporating amendments as at 10 August 2007

TABLE OF PROVISIONS

Section Page

PART 1-PRELIMINARY

1. Main purpose
2. Commencement

PART 2-DEFINITIONS AND KEY CONCEPTS

3. Definitions
4. Meaning of retail premises
5. Minister may make determinations
6. Meaning of common areas of a shopping centre
7. When retail premises lease is entered into or assigned
8. Effect of assignment of retail premises lease
9. Meaning of renewal of a lease
10. Holding over under a retail premises lease

PART 3-APPLICATION OF THE ACT

11. Application generally
12. Application if lease term of less than a year
13. Act applies to retail premises in Victoria
14. Act binds the Crown

PART 4-ENTERING INTO OR RENEWING A RETAIL PREMISES LEASE

Division 1-Entering into a retail premises lease

15. Copy of lease to be provided at negotiation stage
16. Lease must be in writing and signed
17. Landlord's disclosure statement
18. Effect of notice of termination
19. Notices of termination
20. Tenant not required to pay undisclosed contributions
21. Minimum 5 year term
22. Tenant to be given copy of lease
23. Key-money and goodwill payments prohibited
24. Security deposits
25. Small Business Commissioner to be notified of lease

Division 2-Renewal of a retail premises lease

26. Landlord's disclosure on renewal of lease
27. Option to renew
28. Obligation to notify tenant of option to renew

PART 5-RENT AND OUTGOINGS

Division 1-The fit out of the premises

29. Meaning of outgoings to which a tenant contributes
30. Alterations to premises to enable fit out
31. Payment of rent when landlord's fit out not completed
32. Special rent-cost of fit out

Division 2-Determination of the rent

33. Rent based on turnover
34. Agreement about rent based on turnover

Division 3-Review of the rent

35. Rent reviews generally
36. Extended application of section 35.
37. Rent reviews based on current market rent
38. Confidentiality of information supplied to valuer

Division 4-Outgoings

39. Recovery of outgoings from the tenant
40. Liability to contribute to non-specific outgoings
41. Capital costs not recoverable
42. Depreciation not recoverable
43. Tenant not liable to contribute to sinking fund
44. Interest etc. on landlord's borrowings not recoverable
45. Rent etc. associated with other land not recoverable
46. Estimate of outgoings
47. Statement of outgoings
48. Adjustment of contributions to outgoings
49. Limitation on recovery of management fees
50. Recovery of land tax
51. Liability for costs associated with lease
52. Landlord's liability for repairs

PART 6-REFURBISHMENT, RELOCATION AND OTHER INTERFERENCES WITH TENANCY

Division 1-Refurbishment, relocation etc.

53. Landlord to give notice of alterations and refurbishments
54. Tenant to be compensated for interference
55. Relocation of the tenant's business
56. Demolition
57. Damaged premises
58. Refurbishment and refitting

Division 2-Other interferences with tenancy

59. Restriction on whom the tenant employs or engages

PART 7-ASSIGNMENT AND TERMINATION OF A RETAIL PREMISES LEASE

60. When the landlord can withhold consent to an assignment
61. Procedure for obtaining consent to assignment
62. Protection of assignors and guarantors
63. Landlord may reserve the right to refuse a sub-lease, mortgage etc.
64. Notice of the landlord's intentions concerning renewal

PART 8-ADDITIONAL REQUIREMENTS FOR RETAIL SHOPPING CENTRES

65. Part only applies to retail shopping centres
66. Changes to core trading hours
67. Confidentiality of turnover information
68. Availability of statistical information about the retail shopping centre
69. Advertising and promotion requirements
70. Marketing plan for advertising and promotion
71. Statement and report on advertising and promotion expenditure
72. Unspent advertising and promotion contributions
73. Termination by landlord for inadequate sales prohibited
74. Geographical restrictions on tenant prohibited
75. Tenants' associations etc.

PART 9-UNCONSCIONABLE CONDUCT

76. Application of Part
77. Unconscionable conduct of a landlord
78. Unconscionable conduct of a tenant
79. Certain conduct is not unconscionable
80. Recovery of amount for loss or damage

PART 10-DISPUTE RESOLUTION

Division 1-Retail tenancy disputes

81. Meaning of retail tenancy dispute
82. Application of Part to retail premises
83. Part applies to current and former leases

Division 2-The Small Business Commissioner

84. Functions of Small Business Commissioner

Division 3-Alternative dispute resolution

85. What mediation and other alternative dispute resolution covers
86. Referral of retail tenancy disputes for alternative dispute resolution
87. Retail tenancy disputes must first be referred for alternative dispute resolution
88. Statements made during alternative dispute resolution not admissible

Division 4-The Tribunal

89. Jurisdiction of Tribunal
90. Parties to proceeding
91. Orders the Tribunal can make
92. Each party bears its own costs

PART 11-OTHER MATTERS

93. Indemnities
94. The Act prevails over retail premises leases, agreements etc.
94A. Section 146 of the Property Law Act 1958 applies to retail premises leases
95. Occupation of residential area under a retail premises lease
96. Franchise arrangements
97. Service of documents
97A. Validation of certain instruments
98. Limitation of Supreme Court jurisdiction
99. Regulations
PARTS 12, 13-Repealed
100-117 Repealed

PART 14-REPEAL OF 1998 ACT AND TRANSITIONAL PROVISIONS

118. Repeal of Retail Tenancies Reform Act 1998.
119. General transitional and savings
120. Disclosure statements
121. Notification of amount of land tax

PART 15-Repealed

122, 123 Repealed
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ENDNOTES
1. General Information
2. Table of Amendments
3. Explanatory Details

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