Part 1 Preliminary

1.   Interpretation

In this Code –

accounting year means –

(a) an accounting year as set out in a lease for premises; or

(b) if an accounting year is not so set out, a financial year;

assessed annual value means the assessed annual value within the meaning of the Land Valuation Act 1971 ;

auditor means an auditor who is –

(a) [Part 1 of Schedule 1 Amended by No. 42 of 2001, Sched. 2, Applied:01 Jan 2011] a registered company auditor within the meaning of the Corporations Act; and

(b) a member of –

(i) the Institute of Chartered Accountants; or

(ii) the Australian Society of Certified Practising Accountants;

Committee means the Retail Tenancies Code of Practice Monitoring Committee established under clause 40 ;

demolition clause means a clause in a lease for retail premises permitting a property owner to terminate the lease on the ground that all or part of a building incorporating those premises is to be demolished;

disclosure statement means a statement referred to in clause 6 ;

key money means any money paid to or at the discretion of a property owner or property owner's agent, or any benefit that is conferred on or at the direction of a property owner or property owner's agent, in connection with the granting, renewal, extension or assignment of a lease, and a reference in this Code to payment of key money includes a reference to the conferral of any such benefit;