24Tenants to be given copy of landlord’s disclosure statements and landlords to be given copy of tenant’s disclosure statements

24 Tenants to be given copy of landlord’s disclosure statements and landlords to be given copy of tenant’s disclosure statements

(1)  A landlord must ensure that a tenant is given a copy of the landlord’s disclosure statement for a retail lease –

(a) at least 7 days before the retail lease is entered into by the tenant; and

(b) at least 30 days before a tenant has exercised, or is entitled to exercise, an option to renew a retail lease granted under the retail lease; and

(c) at such other interval as is specified in a determination made for the purposes of this subsection.

Penalty:  In the case of –

(a) a body corporate, a fine not exceeding 100 penalty units; and

(b) an individual, a fine not exceeding 50 penalty units.

(2)  The tenant is to sign an acknowledgement of receipt of a copy of the landlord’s disclosure statement before signing the retail lease or a document that binds the tenant to enter into the lease or to take the retail premises on lease for a renewed term.

(3)  The regulations may prescribe the form and content of a tenant’s disclosure statement for a retail lease.

(4)  If the form and content of a tenant’s disclosure statement is prescribed under subsection (3) , a tenant must ensure that a landlord is given a copy of the tenant’s disclosure statement for a retail lease –

(a) at least 7 days before the retail lease is entered into by the tenant; or

(b) at such other interval as is agreed by the parties to the retail lease.

Penalty:  In the case of –

(a) a body corporate, a fine not exceeding 10 penalty units; and

(b) an individual, a fine not exceeding 10 penalty units.