Lessor’s disclosure obligation to lessee for renewal
21E Lessor’s disclosure obligation to lessee for renewal
This section applies in relation to a renewal of a retail shop lease under an option.
The lessor must give the lessee a current disclosure statement within 7 days after the day on which the lessor receives the lessee’s notice exercising the option to renew (the renewal notice).
However, subsection (2) does not apply if, at the time the renewal notice is given to the lessor, the lessee gives the lessor a waiver notice.
Within 14 days of receiving the current disclosure statement, the lessee may, whether or not the renewed lease period has commenced, give the lessor a written notice stating that the renewal notice is withdrawn.
In this section—
current disclosure statement, in relation to a lessor and lessee, means—
in any case—a disclosure statement that is updated to the date it is given; or
if a disclosure statement was given by the lessor to the lessee during the term of the lease—a written statement that updates the details of the disclosure statement to the date it is given.
waiver notice, for a renewal of a retail shop lease, means a written notice signed by the lessee stating that the lessee agrees to waive the lessor’s obligation to give a disclosure statement for the lease.
This Act’s bill:Explanatory memorandum
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