sec.21FLessor’s failure to comply with disclosure obligation

sec.21F Lessor’s failure to comply with disclosure obligation

A lessee may terminate a retail shop lease by giving written notice to a lessor within 6 months after the lessee enters into the lease if— the lessor does not comply with section 21B or 21E ; or a disclosure statement when given to the lessee under section 21B or 21E is a defective statement. For the purposes of this section, a disclosure statement is a defective statement if it— is incomplete in a material particular; or contains information that is false or misleading in a material particular. However, a disclosure statement is not a defective statement merely because— it omits information that is irrelevant to the lease; or its layout does not comply with that of the approved form. The lessee can not terminate the lease under subsection (1) because a disclosure statement is a defective statement if— the lessor acted honestly and reasonably in giving the disclosure statement; and the lessee is in substantially as good a position as the lessee would be if the disclosure statement were not a defective statement. The lessor is liable to pay to the lessee the reasonable compensation decided by way of the dispute resolution process for loss or damage suffered by the lessee because of the noncompliance or defective statement. Termination of the lease under subsection (1) does not affect any right, privilege or liability acquired, accrued or incurred under the lease for any period before the termination. In this section— disclosure statement includes— a statement mentioned in section 21C (3) (c) (ii) or 21D (4) (c) (ii) ; and a written statement given under section 21E that updates the details of an earlier disclosure statement. s 21F ins 2016 No. 21 s 15 amd 2017 No. 17 s 220 (retro) (sec.21F-ssec.1) A lessee may terminate a retail shop lease by giving written notice to a lessor within 6 months after the lessee enters into the lease if— the lessor does not comply with section 21B or 21E ; or a disclosure statement when given to the lessee under section 21B or 21E is a defective statement. (sec.21F-ssec.2) For the purposes of this section, a disclosure statement is a defective statement if it— is incomplete in a material particular; or contains information that is false or misleading in a material particular. (sec.21F-ssec.3) However, a disclosure statement is not a defective statement merely because— it omits information that is irrelevant to the lease; or its layout does not comply with that of the approved form. (sec.21F-ssec.4) The lessee can not terminate the lease under subsection (1) because a disclosure statement is a defective statement if— the lessor acted honestly and reasonably in giving the disclosure statement; and the lessee is in substantially as good a position as the lessee would be if the disclosure statement were not a defective statement. (sec.21F-ssec.5) The lessor is liable to pay to the lessee the reasonable compensation decided by way of the dispute resolution process for loss or damage suffered by the lessee because of the noncompliance or defective statement. (sec.21F-ssec.6) Termination of the lease under subsection (1) does not affect any right, privilege or liability acquired, accrued or incurred under the lease for any period before the termination. (sec.21F-ssec.7) In this section— disclosure statement includes— a statement mentioned in section 21C (3) (c) (ii) or 21D (4) (c) (ii) ; and a written statement given under section 21E that updates the details of an earlier disclosure statement.