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The main objectives of these Regulations are—
to make provision for the amount of occupancy costs for the purpose of excluding certain retail premises; and
to make provision for the amount of outgoings payable by a tenant; and
to prescribe forms of disclosure statement; and
to prescribe other matters required to be prescribed by the Retail Leases Act 2003.
These Regulations are made under section 99 of the Retail Leases Act 2003.
These Regulations come into operation on 15 April 2023.
The following Regulations are revoked—
the Retail Leases Regulations 2013[1];
the Retail Leases Amendment Regulations 2022[2].
In these Regulations—
fire services property levy has the same meaning as levy has in section 3 of the Fire Services Property Levy Act 2012;
relevant fraction means the fraction calculated using this formula—
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where—
A is the lettable area of the retail premises; and
B is the total of lettable areas of all the premises which receive the benefit of the outgoings;
the Act means the Retail Leases Act 2003.
For the purposes of section 4(2)(a) of the Act, the prescribed amount is $1 000 000 per annum exclusive of GST.
For the purposes of section 4(3)(c) of the Act, advertising and promotional services, including marketing fund contributions, are prescribed as an other cost of a prescribed kind.
For the purposes of section 17(1)(a) of the Act, the form of landlord's disclosure statement is in the prescribed form—
in respect of retail premises not located in a retail shopping centre, if it contains the information and material specified in Schedule 1; or
in respect of retail premises located in a retail shopping centre, if it contains the information and material specified in Schedule 2.
For the purposes of section 26(1) of the Act, the form of landlord's disclosure statement on renewal of a lease is in the form prescribed if it contains the information and material specified in Schedule 3.
For the purposes of section 39(2) of the Act, the amount of an outgoing may be determined and apportioned to a tenant by multiplying the total amount of the outgoing by the relevant fraction.
For the purposes of section 40(2) of the Act, a tenant is not liable to contribute towards an outgoing of the landlord in excess of an amount calculated by multiplying the total amount of the outgoing by the relevant fraction.
For the purposes of section 47(5)(b)(i) of the Act, the prescribed percentage is 10 per cent.
For the purposes of section 47(6)(a)(v) of the Act, the following are prescribed as other outgoings—
fire services property levy;
owners corporation fees.
For the purposes of section 61(5) of the Act, the form of landlord's disclosure statement is—
if the retail premises are not located in a retail shopping centre, in Schedule 1; or
if the retail premises are located in a retail shopping centre, in Schedule 2.
For the purposes of section 61(5A) of the Act, the form of tenant's disclosure statement is in the form prescribed if it contains the information and material specified in Schedule 4.