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Leases (Commercial and Retail) Act 2001
55Rent pending valuation—rent reviews and options to
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55 Rent pending valuation—rent reviews and options to
extend
If the rent for premises is not worked out under section 52 (Market
rent—rent reviews, options and renewals) or 53 (Valuation to work
out market rent) before the extension of the lease is to commence or
a rent review is due (the relevant date)—
(a) the rent continues at the rate charged immediately before the
relevant date until the rent has been worked out; and
(b) once the rent has been worked out and set, the party who owes
the other party the difference between the rent paid and the rent
that should have been paid must pay the difference to the party
owed within 30 days after the rent is set.