A rent review clause in a lease that refers to 'the Valuer General's unimproved capital value' at specified dates fixes rent by reference to the actual valuation determined by the relevant statutory officer from time to time under applicable legislation, not by reference to the valuation methodology in force when the lease was granted. Section 297 of the Land Valuation Act 2010 (Qld) applies to such a clause notwithstanding that the lease does not use the precise expression 'unimproved value' or expressly refer to the Valuation of Land Act 1944 (Qld).
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