Retail Shop Leases Amendments PassThe Queensland Parliament has passed the Retail Shop Leases Amendment Bill 2015, following five years of Government consultation with stakeholders on the legislation.The amendment Bill will provide a number of improvements to the Act, reducing red tape and minimising the regulatory burden on the state’s retail sector.Most notably, the amendments exclude retail shops with a floor area greater than 1,000m2 from the legislation.Further amendments to the Bill were made by the Government yesterday retaining the status quo definition of when a lease is entered into, removing proposed lessor objection and dispute procedures, and requiring a statement from the assignee that they have received appropriate legal advice before agreeing to waive the seven day assignor disclosure period.The Bill will take effect six months after assent.The Property Council’s submission to the amendment Bill can be found here.
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