Fair Trading (Code of Practice for Retail Tenancies) Regulations 1998 (Tas)

Fair Trading (Code of Practice for Retail Tenancies) Regulations 1998

I, the Lieutenant-Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, being satisfied of the matters set out in section 43 of the Fair Trading Act 1990 and acting with the advice of the Executive Council and on the recommendation of the Minister, make the following regulations under that Act.

27 July 1998

W. J. E. COX

Lieutenant-Governor

By His Excellency's Command,

R. J. GROOM

Minister for Justice

1. Short title These regulations may be cited as the Fair Trading (Code of Practice for Retail Tenancies) Regulations 1998 .

2. Commencement These regulations take effect on 1 September 1998.

3. Prescribed code of practice The code of practice set out in Schedule 1 is prescribed as the code of practice for retail tenancies.

4. Penalty provision A person must not contravene or fail to comply with a provision of the code of practice for retail tenancies. Penalty: Fine not exceeding 10 penalty units and a daily fine not exceeding 5 penalty units.

SCHEDULE 1 - Code of Practice for Retail Tenancies

Regulation 3

1. TABLE OF CONTENTS PART 1 – PRELIMINARY 1. Interpretation 2. Application PART 2 – REQUIREMENTS APPLICABLE TO ALL PREMISES 3. Unconscionable conduct 4. Clarity of documentation 5. Negotiation of leases 6. Disclosure statements 7. Failure to give accurate statement 8. Lease costs 9. Key money 10. Lease terms 11. Lease documentation 12. Rent adjustments 13. Market value adjustments 14. Negotiation of adjustment 15. Turnover rent 16. Special rent 17. Commencement of rent 18. Recoverable outgoings and operating expenses 19. Report of recoverable outgoings 20. Exercise of options 21. Market rent review 22. Alterations of premises 23. Compensation 24. Demolition 25. Damaged premises 26. Employment restriction 27. Refurbishment of premises 28. Assignments 29. Termination and renewal of leases 30. Security deposits 31. Indemnities 32. Independent advice PART 3 – PREMISES IN SHOPPING CENTRES 33. Costs of obtaining information 34. Advertising and promotion 35. Relocation 36. Inadequate sales 37. Tenants' association 38. Trading hours PART 4 – DISPUTE RESOLUTION 39. Disputes PART 5 – MONITORING COMMITTEE 40. Monitoring Committee 41. Vacation of office 42. Committee functions and powers 43. Committee proceedings 44. Remuneration of members APPENDIX A – VALUATION PRINCIPLES FOR MARKET VALUE RENT APPENDIX B – DISCLOSURE STATEMENT DETAILS APPENDIX C – SPECIFIED BUSINESSES