The Moss Review
In December 2013, the State Government committed to undertake a review of its retail leases legislation. The formal review process was initiated by the Small Business Commissioner (SBC) with an Issues Paper, published in December 2014, followed by the release of Mr Moss’ review in May 2016. Submissions were received from a broad range of organisations, industry groups and individuals as part of the public consultation process.
The Moss Review made 20 recommendations on a number of issues pertaining to the Act.
Changes to the Retail and Commercial Leases Act 1995
Landlords and tenants in the retail and commercial leasing industry need to be aware of important changes to the Retail and Commercial Leases Act 1995 (the Act) and accompanying Regulations that came in to force n 1 July 2020.
A copy of the amending Bill as passed by both houses can be found here.
From 1 July 2020, at the time when a copy of a proposed lease is provided to a prospective tenant, the landlord or person acting on behalf of the landlord must also provide the prospective lessee with a copy of the Small Business Commissioner’s information brochure, which is referred to as the Retail & Commercial Leasing Guide.
Failure to comply with this requirement may result in a penalty of up to $8,000.
A copy of the Retail & Commercial Leasing Guide, can be found here.