Lessor not to disclose turnover information
26 Lessor not to disclose turnover information
A lessor must not, whether directly or indirectly, disclose to anyone else information obtained by the lessor about the turnover of the lessee’s business without the lessee’s agreement.
Maximum penalty—60 penalty units.
However, the lessor may disclose information—
in a document giving the aggregate turnover of businesses, or a class of business, in the retail shopping centre in which the leased shop is situated if the disclosure is made in a way that does not disclose information about the turnover of an individual lessee’s business; or
specifying the turnover of the lessee’s business to—
a prospective purchaser or mortgagee of the retail shopping centre in which the leased shop is situated; or
a professional adviser to, or properly appointed agent of, a prospective purchaser or mortgagee mentioned in subparagraph (i); or
the lessor’s professional advisers; or
a court under a court order; or
a mediator under this Act or QCAT; or
a specialist retail valuer under section 30.
A person who is given information under subsection (2)(b)(i) or (ii)—
may use the information only to enable the prospective purchaser or mortgagee to make a decision whether to purchase the lessor’s interest in, or to obtain financial accommodation on the security of, the retail shopping centre; and
must not, whether directly or indirectly, disclose the information to anyone else without the lessee’s agreement.
Maximum penalty—60 penalty units.
A person who is given information under subsection (2)(b)(iii)—
may use the information only to determine the lessee’s rent on the basis of the turnover of the lessee’s business carried on in the leased shop or to advise the lessor on the centre’s trading performance; and
must not, whether directly or indirectly, disclose the information to anyone else without the lessee’s agreement.
Maximum penalty—60 penalty units.
If a person discloses information in contravention of subsection (1), (3) or (4) and the lessee suffers loss or damage because of the disclosure, the lessee is entitled to the reasonable compensation for the loss or damage agreed between the lessor and lessee or, failing agreement, decided by way of the dispute resolution process.
An agreement under the lease about the disclosure of turnover information or the amount of compensation is not an agreement for the purposes of subsection (1), (3)(b), (4)(b) or (5).
This Act’s bill:Explanatory memorandum
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