Retail Leases Act 2022

A tenant may terminate a retail lease by notice in writing to the landlord at any time within 6 months after the lease is entered into if – the tenant has not been given a landlord’s disclosure statement; or the landlord’s disclosure statement given by the landlord to the tenant is materially incomplete or contains information that at the time at which it was given was materially false or materially misleading.

Subject to subsection (3), if the tenant under a retail lease gives the landlord a notice of termination under subsection (1), the retail lease terminates upon the expiry of the 14-day period from the day on which the notice was given.

Within 14 days after being given the notice of termination under subsection (1), the landlord may give the tenant a notice of objection to the termination on the grounds that – the landlord has acted honestly and reasonably and ought fairly to be excused for the contravention; and the tenant is substantially in as good a position as the tenant would have been in if there had been no contravention.

If the tenant advises the landlord that the tenant accepts the landlord’s notice of objection under subsection (3), the retail lease does not terminate in accordance with subsection (2).

The tenant is taken to have accepted a notice of objection made under subsection (3) if the tenant does not advise the landlord in writing, within 14 days after being given the notice, whether or not the tenant accepts it.

The termination of a retail lease under this section does not affect any right, privilege, obligation or liability acquired, accrued or incurred by either party under the retail lease in respect of any period before its termination.