Submissions on the proposed Retail Leases Regulations 2013 and the Regulatory Impact Statement are invited

The Department of Business and Innovation has invited submissions on proposed Retail Leases Regulations and a Regulatory Impact Statement.

The Department’s website states that:

The objectives of these regulations are to:

• make provision with respect to the amount of the occupancy costs for the purpose of excluding certain retail premises from the Retail Leases Act 2003
• make provision with respect to the amount of outgoings payable by a tenant
• prescribe forms of disclosure statement
• prescribe other matters required by the Act to be prescribed

The Regulatory Impact Statement:

• explains the likely impact of the proposed regulations
• assesses the benefits and costs of the proposed regulations and the feasible alternatives for achieving the same objectives
• considers genuine options for reform and re-establishes the case for government intervention in the market for retail leases

One of the interesting issues being considered by the Department is whether there will be a different disclosure statement for assignors of a retail lease (for further discussion on this topic, see an earlier post here).

Readers interested in making submissions can find further details at the Department’s website here.