On 22 February 2017, theRetail Leases Amendment (Review) Bill
2016 – UpdateOn 22 February 2017, the Retail Leases Amendment
(Review) Bill 2016 was passed through the NSW Legislative
The legislation, upon receiving royal assent, will give effect
to the recommendations resulting from the recent statutory review
of the Act.
Key amendments include:
the abolition of the 5-year minimum term for retail shop
additional right to compensation to a tenant who terminates the
lease within the first 6 months for costs reasonably incurred where
the landlord did not provide the tenant a disclosure
exclusion of ATMs, vending machines, public telephones,
children's rides, signage display, internet booths, private
post boxes and certain storage uses from the operation of the
requiring landlords to provide full disclosure of contributions
to the landlord's outgoings in the landlord's disclosure
statement, otherwise contributions will not be recoverable from the
requiring the landlord to return any bank guarantee within 2
months after the tenant has performed all obligations secured by
the bank guarantee;
extending the definition of outgoings to include fees charged
by a landlord for services provided by the landlord;
excluding online transactions (with limited exceptions) from
the determination of turnover rent;
clarifying the procedure to be followed by a tenant to obtain
the consent of the landlord to an assignment of a retail shop
prohibiting the landlord from being able to recover mortgagee
Clayton Utz will issue a comprehensive article providing further
detail on some of the key changes shortly.
Clayton Utz communications are intended to provide
commentary and general information. They should not be relied upon
as legal advice. Formal legal advice should be sought in particular
transactions or on matters of interest arising from this bulletin.
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If an owner wants to remove a caveat, issuing a lapsing notice is a quick and easy way to shift the problem to the caveator.
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