49Rent setting or review if lease method void

49 Rent setting or review if lease method void (1) The rent under a lease is market rent if— (a) the provision of the lease that provides the method of setting or reviewing rent under the lease is void because of section 46 (Discretionary rent review); and (b) the lessor or tenant has given the other party to the dispute written notice that the method is void; and (c) the parties cannot, within 14 days after the notice is served, agree on an alternative basis for setting or reviewing the rent that would not be void if it were a provision in the lease. Note For how documents may be served, see the Legislation Act, pt 19.5. (2) For subsection (1), the parties may use mediation to try to agree on an alternative basis of setting or reviewing the rent. (3) Subsection (2) does not prevent the parties from using any other method to try to reach agreement.