37Repayment from sinking fund after destruction etc. of building

37 Repayment from sinking fund after destruction etc. of building (1) This section applies to the landlord under a retail shop lease of a retail shop that provides for the establishment of a sinking fund to fund provision for major items of repair or maintenance. (2) If the building or retail shopping centre in which the retail shop is located is destroyed or demolished or the retail shopping centre ceases to operate, the landlord must repay to each tenant liable to contribute to the sinking fund the amount payable to the tenant determined in accordance with subsection (3). (3) The amount payable to the tenant is that proportion of the total amount outstanding to the credit of the sinking fund that is equal to the proportion that the lettable area of the tenant's retail shop bears to the total lettable area of all the shops in respect of which contributions are required to be made to the fund. (4) In this section: landlord and tenant mean the persons who were the landlord and tenant, respectively, under a retail shop lease immediately before the destruction or demolition of the building or immediately before the retail shopping centre ceased to operate.