Retail Shop Leases Act 1994

A lessor’s outgoings for a retail shopping centre or leased building are—

the lessor’s reasonable expenses directly attributable to the operation, maintenance or repair of the centre or building and areas (associated areas) used in association with the centre or building; and

charges, levies, premiums, rates or taxes payable by the lessor because the lessor is the owner or occupier of—

the centre or building; or

the land on which the centre or building is situated; and

an amount mentioned in section 24A(2).

An outgoing mentioned in subsection (1) may be either an apportionable outgoing or a specific outgoing and the sum of the apportionable outgoings and specific outgoings is the lessor’s outgoings.

However, lessor’s outgoings do not include—

land tax payable on the land on which the centre or building is situated; and

expenditure of a capital nature, including the amortisation of capital costs; and

contributions to a depreciation or sinking fund; and

insurance premiums for loss of profits; and

payment of an excess in relation to a claim on the lessor’s insurance policy for the centre or building or associated areas; and

lessor’s contributions to merchants’ associations and centre promotion funds; and

payment of interest and charges on amounts borrowed by the lessor.