sec.28AParties’ submissions to specialist retail valuer

sec.28A Parties’ submissions to specialist retail valuer

This section applies if the current market rent under a retail shop lease is to be determined by a specialist retail valuer under section 28 . The valuer must advise the lessor and lessee that the lessor and lessee may give the valuer a submission about the current market rent of the leased shop by a stated date decided by the valuer (the submission date ). The submission date must be not less than 14 days after the valuer is agreed to or appointed under section 28 . If the lessor or lessee does not give a submission to the valuer by the submission date, the lessor or lessee is taken to have not made a submission for the purposes of this section or section 29 (1) (c) (ii) . A lessor or lessee who gives a submission to the valuer must also give a copy of it to the other party by the submission date. A lessor or lessee who receives a copy of a submission may give the valuer a written response to it. The response must be given by a stated date decided by the valuer (the response date ) that is reasonable in the circumstances. If the lessor or lessee does not give a response to the valuer by the response date, the lessor or lessee is taken to have not made a response for the purposes of this section or section 29 (1) (c) (ii) . s 28A ins 2006 No. 4 s 17 sub 2016 No. 21 s 27 (sec.28A-ssec.1) This section applies if the current market rent under a retail shop lease is to be determined by a specialist retail valuer under section 28 . (sec.28A-ssec.2) The valuer must advise the lessor and lessee that the lessor and lessee may give the valuer a submission about the current market rent of the leased shop by a stated date decided by the valuer (the submission date ). (sec.28A-ssec.3) The submission date must be not less than 14 days after the valuer is agreed to or appointed under section 28 . (sec.28A-ssec.4) If the lessor or lessee does not give a submission to the valuer by the submission date, the lessor or lessee is taken to have not made a submission for the purposes of this section or section 29 (1) (c) (ii) . (sec.28A-ssec.5) A lessor or lessee who gives a submission to the valuer must also give a copy of it to the other party by the submission date. (sec.28A-ssec.6) A lessor or lessee who receives a copy of a submission may give the valuer a written response to it. (sec.28A-ssec.7) The response must be given by a stated date decided by the valuer (the response date ) that is reasonable in the circumstances. (sec.28A-ssec.8) If the lessor or lessee does not give a response to the valuer by the response date, the lessor or lessee is taken to have not made a response for the purposes of this section or section 29 (1) (c) (ii) .