Retail Leases Regulations 2023 (Victoria)

The Retail Leases Regulations 2023 (S.R. No. 24/2023) prescribes discrete, mechanistic rules under section 99 of the Retail Leases Act 2003. The Regulations (commencing 15 April 2023, reg 3) do four principal things, as framed in their objectives (reg 1):

set a monetary occupancy-cost threshold used to exclude certain premises from the Act (reg 6(1));
specify particular categories of landlord costs, including advertising and promotional services, that count as “other costs of a prescribed kind” for statutory purposes (reg 6(2));
prescribe how outgoings are to be apportioned and the maximum tenant liability in relation to non-specific outgoings (regs 9 and 10); and
prescribe the statutory disclosure forms and the detail to be included in them for initial leases, renewals and assignments (regs 7, 8, 12 and Schedules 1-4).

Mechanically the Regulations operate by specifying numeric thresholds, formulas and standardised disclosure templates. The “relevant fraction”, used to apportion non‑specific outgoings, is defined by reference to lettable areas A (the premise) and B (the total of lettable areas which receive the benefit of the outgoings) (reg 5). For the purposes of section 4(2)(a) of the Act the prescribed occupancy amount is $1,000,000 per annum exclusive of GST (reg 6(1)). Advertising and promotional services, explicitly including marketing fund contributions, are prescribed as an “other cost of a prescribed kind” relevant to the Act (reg 6(2)). The Regulations also prescribe the precise forms and the items those forms must contain: Schedule 1 for premises outside retail shopping centres, Schedule 2 for premises in retail shopping centres, Schedule 3 for renewals and Schedule 4 for tenant disclosure on assignment (regs 7, 8 and 12(1)-(2)).

Version No. 001

Retail Leases Regulations 2023

S.R. No. 24/2023

Version as at
15 April 2023

TABLE OF PROVISIONS

Regulation Page

1 Objectives 1

2 Authorising provision 1

3 Commencement 1

4 Revocations 1

5 Definitions 2

6 Meaning of retail premises 2

7 Provision of landlord's disclosure statement and proposed lease 2

8 Landlord's disclosure on renewal of lease 3

9 Recovery of outgoings from the tenant 3

10 Liability to contribute to non-specific outgoings 3

11 Statement of outgoings 3

12 Procedure for obtaining consent to assignment 3

Schedule 1—Landlord's disclosure statement—retail premises not located in retail shopping centres 5

Schedule 2—Landlord's disclosure statement—retail premises located in retail shopping centres 17

Schedule 3—Landlord's disclosure statement on renewal of lease 33

Schedule 4—Disclosure statement—assigned lease where ongoing business 37

═════════════

Endnotes 42

1 General information 42

2 Table of Amendments 44

3 Explanatory details 45

Version No. 001

Retail Leases Regulations 2023

S.R. No. 24/2023

Version as at
15 April 2023

1 Objectives

The main objectives of these Regulations are—

(a) to make provision for the amount of occupancy costs for the purpose of excluding certain retail premises; and

(b) to make provision for the amount of outgoings payable by a tenant; and

(d) to prescribe other matters required to be prescribed by the Retail Leases Act 2003.

2 Authorising provision

These Regulations are made under section 99 of the Retail Leases Act 2003.

3 Commencement

These Regulations come into operation on 15 April 2023.

4 Revocations

The following Regulations are revoked—

(a) the Retail Leases Regulations 2013[1];

(b) the Retail Leases Amendment Regulations 2022[2].

5 Definitions

In these Regulations—

fire services property levy has the same meaning as levy has in section 3 of the Fire Services Property Levy Act 2012;

relevant fraction means the fraction calculated using this formula—

View image in the official source

where—

A is the lettable area of the retail premises; and

B is the total of lettable areas of all the premises which receive the benefit of the outgoings;

the Act means the Retail Leases Act 2003.

6 Meaning of *retail premises*

(1) For the purposes of section 4(2)(a) of the Act, the prescribed amount is $1 000 000 per annum exclusive of GST.

(2) For the purposes of section 4(3)(c) of the Act, advertising and promotional services, including marketing fund contributions, are prescribed as an other cost of a prescribed kind.

7 Provision of landlord's disclosure statement and proposed lease

For the purposes of section 17(1)(a) of the Act, the form of landlord's disclosure statement is in the prescribed form—

(a) in respect of retail premises not located in a retail shopping centre, if it contains the information and material specified in Schedule 1; or

(b) in respect of retail premises located in a retail shopping centre, if it contains the information and material specified in Schedule 2.

8 Landlord's disclosure on renewal of lease

For the purposes of section 26(1) of the Act, the form of landlord's disclosure statement on renewal of a lease is in the form prescribed if it contains the information and material specified in Schedule 3.

9 Recovery of outgoings from the tenant

For the purposes of section 39(2) of the Act, the amount of an outgoing may be determined and apportioned to a tenant by multiplying the total amount of the outgoing by the relevant fraction.

10 Liability to contribute to non-specific outgoings

For the purposes of section 40(2) of the Act, a tenant is not liable to contribute towards an outgoing of the landlord in excess of an amount calculated by multiplying the total amount of the outgoing by the relevant fraction.

11 Statement of outgoings

(1) For the purposes of section 47(5)(b)(i) of the Act, the prescribed percentage is 10 per cent.

(2) For the purposes of section 47(6)(a)(v) of the Act, the following are prescribed as other outgoings—

(a) fire services property levy;

(b) owners corporation fees.

12 Procedure for obtaining consent to assignment

(1) For the purposes of section 61(5) of the Act, the form of landlord's disclosure statement is—

(a) if the retail premises are not located in a retail shopping centre, in Schedule 1; or

(b) if the retail premises are located in a retail shopping centre, in Schedule 2.

(2) For the purposes of section 61(5A) of the Act, the form of tenant's disclosure statement is in the form prescribed if it contains the information and material specified in Schedule 4.

Schedule 1—Landlord's disclosure statement—retail premises not located in retail shopping centres

Regulations 7(a) and 12(1)(a)

Landlord's Disclosure Statement—Retail Premises not Located in Retail Shopping Centres

by the landlord under sections 17(1)(a) and 61(5) of the
Retail Leases Act 2003

NOTE

This statement is to be completed by the landlord and must be provided to the tenant with a copy of the proposed lease at least 14 days before the signing of a new lease. If this statement and the proposed lease are provided to the tenant less than 14 days before a new lease is entered into, the lease is taken to commence 14 days after the disclosure statement and proposed lease are given to the tenant.

The layout of this statement does not need to be the same as the prescribed disclosure statement in the Retail Leases Regulations 2023.

It is recommended that a tenant obtain independent legal and financial advice before entering into a retail premises lease.

The tenant has remedies including termination of a lease under the Retail Leases Act 2003 if information in this statement is misleading, false or materially incomplete.

Information contained in this statement is correct as at the date of this statement but may change after the date of this statement and during the term of the lease.

DISCLOSURE STATEMENT
by the landlord

Landlord:
Tenant:
Premises:

PART 1 PREMISES
1 Premises details
1.1 Street address of premises[insert street address of premises and, as applicable, shop number, name of the building in which the premises is located, street address of the building]
1.2 Plan of premises (if available)[insert description of premises by reference to a prepared plan. Attach the plan to this disclosure statement as per item 23.1]
1.3 Lettable area of premises Will a survey be conducted? m2Actual/Estimate🞏 Yes🞏 No
1.4 Existing structures, fixtures, plant and equipment in the premises, provided by the landlord (excluding any works, fit out and refurbishment described in Part 3)
[select as appropriate]🞏 air conditioning🞏 cool room🞏 floor coverage🞏 grease trap🞏 hot water service🞏 lighting🞏 mechanical exhaust🞏 painted walls 🞏 plastered walls🞏 shop front🞏 sink🞏 sprinklers🞏 suspended ceilings🞏 telephone🞏 water supply🞏 waste
🞏 electrical distribution load (3 phase)🞏 electrical distribution load (single phase)🞏 separate utility meter—gas🞏 separate utility meter—water🞏 separate utility meter—electricity🞏 other
1.5 Services and facilities provided by the landlord for the benefit of the premises (for example, security services, cleaning)
2 Permitted use
2.1 Description of permitted use(Note: the tenant should investigate if the proposed use of the premises is permitted under planning laws.)
3 Number of car parking spaces
3.1 Approximate total spaces spaces
3.2 Available spaces for customers of the building spaces
3.3 Reserved spaces for use of the tenant only spaces
4 Head lease
4.1 Is the premises under a head lease or Crown lease? 🞏 Yes🞏 No
4.2 Has the landlord provided a copy of the head lease or Crown lease to the tenant? 🞏 Yes—attached as per item 23.2🞏 No🞏 Not applicable
4.3 Current term under the head lease or Crown lease and option/s to renew 🞏 Not applicable 🞏 Details of head lease as follows: Current term: years / /20 to / /20 Options to renew: years / /20 to / /20[list any options for further terms held by the landlord under the head lease]
4.4 Is the head landlord's consent to the lease required? 🞏 Yes🞏 No
PART 2 TERM OF LEASE AND OPTION/S TO RENEW LEASE
5 Term of lease
5.1 Date lease commences[see also date of handover at item 7] / /20Actual/Estimate
5.2 Length of term years months
5.3 Date lease expires[based on the date indicated at item 5.1 as the date the lease commences] / /20
6 Option/s to renew lease
6.1 Option/s details (Note: an option to renew a lease must be exercised in writing and given to the landlord on or before the last day stated in the option clause of the lease.) 🞏 No options to renew lease 🞏 Options as follows:
Length of option Period of option Exercise date
yearsActual/Estimate yearsActual/Estimate / /20 to / /20 / /20 to / /20 / /20 to / /20 / /20 to / /20
[list all options to renew lease]
PART 3 WORKS, FIT OUT AND REFURBISHMENT
7 Date of handover
7.1 Date of handover[if different to the date the lease commences indicated at item 5.1] / /20Actual/Estimate
8 Landlord's works
8.1 Description of works to be carried out by the landlord before the date the lease commences[exclude any works that form part of the tenant's fit out at item 9]
8.2 Estimate of expected contribution by the tenant towards the cost of the landlord's works $
[see also outgoings (item 13) in relation to any maintenance and repair outgoings]
9 Tenant's fit out works
9.1 Fit out works to be carried out by the tenant[excluding the landlord's works at item 8]
9.2 Is the landlord providing any contribution towards the cost of the tenant's fit out? 🞏 Yes[insert details of landlord's contribution] 🞏 No
9.3 Does the landlord have requirements as to the quality and standard of shop front and fit out? 🞏 Yes[insert details or provide fit out guide] 🞏 No
PART 4 RENT
10 Annual base rent
10.1 Starting annual base rent[i.e. when the lease commences] $Including/Excluding GST
10.2 Rent free period[describe any rent free period]
10.3 Date of rent commencement / /20
10.4 How rent payments are to be made?[insert description of how rent is paid—e.g. by equal monthly instalments in advance on the first day of each month, other than the first and last payments which are calculated on a pro-rata basis]
11 Rent adjustment (rent review)
11.1 Rent adjustment date(s) and adjustment method[insert a list of all rent adjustment dates and adjustment methods —e.g. fixed increase by X%, fixed increase by $X, current market rent, indexed to CPI]
PART 5 OUTGOINGS
12 Contribution by tenant towards landlord's outgoings
12.1 Is the tenant required to pay or contribute towards the landlord's outgoings? 🞏 Yes🞏 No
12.2 Describe any period during which the tenant is not required to pay outgoings
12.3 Date on which payment of outgoings is to commence / /20
12.4 Formulae for apportioning outgoings[insert formulae on how outgoings payable by tenant are to be apportioned]
13 Outgoings estimates (annual) for the 12 month period / /20 to / /20[state which of the following are payable by the tenant. The landlord may be prevented by the Retail Leases Act 2003 from claiming certain costs]
Estimate per annum for the building (Including/Excluding GST)
13.1 AdministrationAdministration costs (excluding management fees and wages)Management fees $ $
13.2 Air conditioning/temperature controlAir conditioning maintenanceAir conditioning operating costs(Note: section 52 of the Retail Leases Act 2003 provides for the landlord's liability for certain costs relating to repairs and maintenance work.) $$
13.3 Building managementBody corporate/strata leviesBuilding intelligence servicesEnergy management servicesGardening and landscapingInsurancePest controlVentilation $$$$$$$
13.4 Building securityCaretakingEmergency systemsFire protectionSecurity services $$$$
13.5 CleaningCleaning consumablesCleaning costs (excluding consumables) $$
13.6 Government rates and chargesLocal government rates and chargesWater, sewerage and drainage rates and chargesFire services property levy(Note: under section 50 of the Retail Leases Act 2003, the landlord may not claim land tax as an outgoing.) $ $$
13.7 RepairsRepairs and maintenanceSinking fund for repairs and maintenance(Note: under section 41 of the Retail Leases Act 2003, the landlord may not claim the capital costs of the building in which the premises are located)(Note: section 52 of the Retail Leases Act 2003 provides for the landlord's liability for certain costs relating to repairs and maintenance work.) $$
13.8 Utility servicesElectricityGasOilWater $$$$
13.9 Waste managementSewerage disposalWaste collection and disposal $$
13.10 List any other outgoings $$$
13.11 Estimated tenant contribution to outgoings $
PART 6 OTHER COSTS
14 Other monetary obligations and charges
14.1 Outline any costs arising under the lease including up-front costs or other costs not part of the outgoings and not referred to elsewhere in this disclosure statement[e.g. interest and legal costs]
PART 7 ALTERATION WORKS (INCLUDING RENOVATIONS, EXTENSIONS, REDEVELOPMENT, DEMOLITION)
15 Alteration works
15.1 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to the premises or building, including surrounding roads, during the term or any further term or terms? 🞏 Yes [insert details of the proposed works] 🞏 No
16 Clauses in lease dealing with relocation and demolition works
16.1 Clause(s) in lease providing for relocation of tenant 🞏 Clause(s) of the lease 🞏 Not applicable
16.2 Clause(s) in lease providing for demolition of the premises or building 🞏 Clause(s) of the lease 🞏 Not applicable
PART 8 OTHER DISCLOSURES
17 Other disclosures
17.1 Are there any current legal proceedings in relation to the lawful use of the premises or building? 🞏 Yes [provide details] 🞏 No
17.2 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to land adjacent to or in close proximity to the premises or building, during the term or any further term or terms?🞏 Yes [provide details] 🞏 No
18 Representations by landlord
18.1 Any other representations by the landlord or the landlord's agent[landlord to insert details of any other oral or written representations made by the landlord or the landlord's agent]
PART 9 LANDLORD ACKNOWLEDGEMENTS AND SIGNATURE
19 Acknowledgements by landlord
By signing this disclosure statement, the landlord confirms and acknowledges that: ● this disclosure statement contains all representations in relation to the proposed lease by the landlord and the landlord's agents as at the date of this disclosure statement; ● this disclosure statement reflects all agreements that have been made by the parties; ● the landlord has not knowingly withheld information which is likely to have an impact on the tenant's proposed business.
Warnings to landlord when completing this disclosure statement: ● the tenant may have remedies including termination of lease if the information in this statement is misleading, false or materially incomplete.
20 Landlord's signature
20.1 Name of landlord[insert name of landlord]
20.2 Signed by the landlord or the landlord's agent for and on behalf of the landlordx................................................................
20.3 Name of the landlord's authorised representative or landlord's agent[insert name of person signing with the authority of the landlord]
20.4 Date / /20
PART 10 TENANT ACKNOWLEDGEMENTS AND SIGNATURE
21 Acknowledgements by the tenant
By signing this disclosure statement, the tenant confirms and acknowledges that the tenant received this disclosure statement.
Before entering into a lease, tenants should consider these key questions: ● Does the planning authority allow your proposed use for the premises under planning law? ● Is the security of your occupancy affected by: ● mortgages, charges or encumbrances granted by the landlord? ● rights and obligations under a head lease? ● Does the premises comply with building and safety regulations? Is the premises affected by outstanding notices by any authority? ● Could your trading be affected by disturbances or changes to the building? ● Does the landlord require you to refurbish the premises regularly or at the end of the lease?
● Can the landlord end the lease early even if you comply with the lease? ● Are all the existing structures, fixtures and plant and equipment in good working order? ● Are you required to make good the premises at the end of the lease?
22 Tenant's signature
It is important that a tenant seek independent legal and financial advice before entering into a lease.
22.1 Name of tenant[insert name of tenant]
22.2 Signed by the tenant or for and on behalf of the tenantx......................................................................
22.3 Name of the tenant's authorised representative[insert name of person signing with the authority of the tenant]
22.4 Date / /20
PART 11 ATTACHMENTS
23 List of attachments
Attached?
23.1 Plan of premises [see item 1.2] 🞏 Yes🞏 Not applicable
23.2 Head lease or Crown lease [see item 4.2] 🞏 Yes🞏 Not applicable
23.3 Additional attachments[list of any additional attachments]

Schedule 2—Landlord's disclosure statement—retail premises located in retail shopping centres

Regulations 7(b) and 12(1)(b)

Landlord's Disclosure Statement—retail premises located in Retail Shopping Centres

by the landlord under sections 17(1)(a) and 61(5) of the
Retail Leases Act 2003

NOTE

The layout of this statement does not need to be the same as the prescribed disclosure statement in the Retail Leases Regulations 2023.

It is recommended that a tenant obtain independent legal and financial advice before entering into a retail premises lease.

The tenant has remedies including termination of a lease under the Retail Leases Act 2003 if information in this statement is misleading, false or materially incomplete.

Information contained in this statement is correct as at the date of this statement but may change after the date of this statement and during the term of the lease.

DISCLOSURE STATEMENT
by the landlord

Landlord:
Tenant:
Premises:

KEY DISCLOSURE ITEMS

1	Annual base rent under the lease<br>[see item 10.1]	$ p.a.<br>Including/Excluding GST
2	Is a rent based on turnover payable by the tenant in year 1?<br>[see item 12]	🞏 Yes<br>🞏 No
3	Total estimated outgoings and promotion and marketing costs for the tenant in year 1<br>[see Parts 5 and 6]	$<br>Including/Excluding GST
4	Term of the lease<br>[see item 5]	years months
5	Estimated commencement date of the lease<br>[see item 5.1]	/ /20
6	Estimated handover date of the premises<br>[see item 7.1]	/ /20
7	Does the tenant have an option to renew for a further period (exercised in writing and given to the landlord on or before the last day stated in the option clause)?<br>[see item 6]	🞏 Yes<br>🞏 No
8	Does the lease provide the tenant with exclusivity in relation to the permitted use of the premises?<br>[see item 2.2]	🞏 Yes<br>🞏 No

PART 1 PREMISES
1 Premises details
1.1 Street address of premises[insert street address of premises and, as applicable, shop number, name of the building/centre in which the premises is located, street address of the building/centre]
1.2 Plan of premises (if available)[insert description of premises by reference to a prepared plan. Attach the plan to this disclosure statement as per item 33.1]
1.3 Lettable area of premises Will a survey be conducted? m2Actual/Estimate🞏 Yes🞏 No
1.4 Existing structures, fixtures, plant and equipment in the premises, provided by the landlord (excluding any works, fit out and refurbishment described in Part 3)
[select as appropriate]🞏 air conditioning🞏 cool room🞏 floor coverage🞏 grease trap🞏 hot water service🞏 lighting🞏 mechanical exhaust🞏 painted walls 🞏 plastered walls🞏 shop front🞏 sink🞏 sprinklers🞏 suspended ceilings🞏 telephone🞏 water supply🞏 waste
🞏 electrical distribution load (3 phase)🞏 electrical distribution load (single phase)🞏 separate utility meter—gas🞏 separate utility meter—water🞏 separate utility meter—electricity🞏 other
1.5 Services and facilities provided by the landlord for the benefit of the premises (for example, security services, cleaning)
2 Permitted use
2.1 Description of permitted use(Note: the tenant should investigate if the proposed use of the premises is permitted under planning laws.)
2.2 Is the permitted use described in item 2.1 exclusive to the tenant? 🞏 Yes🞏 No
3 Number of car parking spaces
3.1 Approximate total spaces spaces
3.2 Available spaces for customers of the building/centre spaces
3.3 Reserved spaces for use of the tenant only spaces
4 Head lease
4.1 Is the premises under a head lease or Crown lease? 🞏 Yes🞏 No
4.2 Has the landlord provided a copy of the head lease or Crown lease to the tenant? 🞏 Yes—attached as per item 33.2🞏 No🞏 Not applicable
4.3 Current term under the head lease or Crown lease and option/s to renew 🞏 Not applicable 🞏 Details of head lease as follows: Current term: years / /20 to / /20 Options to renew: years / /20 to / /20[list any options for further terms held by the landlord under the head lease]
4.4 Is the head landlord's consent to the lease required? 🞏 Yes🞏 No
PART 2 TERM OF LEASE AND OPTION/S TO RENEW LEASE
5 Term of lease
5.1 Date lease commences[see also date of handover at item 7] / /20Actual/Estimate
5.2 Length of term years months
5.3 Date lease expires[based on the date indicated at item 5.1 as the date the lease commences] / /20
6 Option/s to renew lease
6.1 Option/s details (Note: an option to renew a lease must be exercised in writing and given to the landlord on or before the last day stated in the option clause of the lease.) 🞏 No options to renew lease 🞏 Options as follows:
Length of option Period of option Exercise date
yearsActual/Estimate yearsActual/Estimate / /20 to / /20 / /20 to / /20 / /20 to / /20 / /20 to / /20
[list all options to renew lease]
PART 3 WORKS, FIT OUT AND REFURBISHMENT
7 Date of handover
7.1 Date of handover[if different to the date the lease commences indicated at item 5.1] / /20Actual/Estimate
8 Landlord's works
8.1 Description of works to be carried out by the landlord before the date the lease commences[exclude any works that form part of the tenant's fit out at item 9]
8.2 Estimate of expected contribution by the tenant towards the cost of the landlord's works $
[see also outgoings (item 14) in relation to any maintenance and repair outgoings]
9 Tenant's fit out works
9.1 Fit out works to be carried out by the tenant[excluding the landlord's works at item 8]
9.2 Is the landlord providing any contribution towards the cost of the tenant's fit out? 🞏 Yes[insert details of landlord's contribution] 🞏 No
9.3 Does the landlord have requirements as to the quality and standard of shop front and fit out? 🞏 Yes[insert details or provide fit out guide] 🞏 No
PART 4 RENT
10 Annual base rent
10.1 Starting annual base rent[i.e. when the lease commences] $Including/Excluding GST
10.2 Rent free period[describe any rent free period]
10.3 Date of rent commencement / /20
10.4 How rent payments are to be made?[insert description of how rent is paid—e.g. by equal monthly instalments in advance on the first day of each month, other than the first and last payments which are calculated on a pro-rata basis]
11 Rent adjustment (rent review)
11.1 Rent adjustment date(s) and adjustment method[insert a list of all rent adjustment dates and adjustment methods —e.g. fixed increase by X%, fixed increase by $X, current market rent, indexed to CPI]
12 Rent based on turnover
12.1 Is a rent based on turnover payable by the tenant?(Note: the lease must specify the method by which a rent based on turnover is to be determined.) 🞏 Yes [insert method of calculating the turnover rent] 🞏 No
12.2 If a rent based on turnover is not required to be paid, does the landlord require the tenant to provide details of turnover? 🞏 Yes🞏 No
PART 5 OUTGOINGS
13 Contribution by tenant towards landlord's outgoings
13.1 Is the tenant required to pay or contribute towards the landlord's outgoings? 🞏 Yes🞏 No
13.2 Describe any period during which the tenant is not required to pay outgoings
13.3 Date on which payment of outgoings is to commence / /20
13.4 Formulae for apportioning outgoings[insert formulae on how outgoings payable by tenant are to be apportioned]
14 Outgoings estimates (annual) for the 12 month period / /20 to / /20[state which of the following are payable by the tenant] (Note: The landlord may be prevented by the Retail Leases Act 2003 from claiming certain costs.)
Estimate per annum for the building/centre(Including/Excluding GST)
14.1 AdministrationAdministration costs (excluding management fees and wages)Management fees $ $
14.2 Air conditioning/temperature controlAir conditioning maintenanceAir conditioning operating costs(Note: section 52 of the Retail Leases Act 2003 provides for the landlord's liability for certain costs relating to repairs and maintenance work.) $$
14.3 Building/centre managementBody corporate/strata leviesBuilding intelligence servicesCustomer traffic flow servicesEnergy management servicesGardening and landscapingInsurancePest controlVentilation $$$$$$$$
14.4 Building/centre securityCaretakingEmergency systemsFire protectionSecurity services $$$$

14.5	Cleaning<br>Cleaning consumables<br>Cleaning costs (excluding consumables)	$<br>$
14.6	Communications<br>Post boxes<br>Public telephones	$<br>$
14.7	Customer facilities<br>Car parking<br>Child minding<br>Escalators<br>Lifts<br>Uniforms	$<br>$<br>$<br>$<br>$
14.8	Customer information services<br>Information directories<br>Public address/music<br>Signage	$<br>$<br>$
14.9	Government rates and charges<br>Local government rates and charges<br>Water, sewerage and drainage rates and charges<br>Fire services property levy<br>(Note: under section 50 of the Retail Leases Act 2003, the landlord may not claim land tax as an outgoing.)	$ <br>$<br>$
14.10	Repairs<br>Repairs and maintenance<br>Sinking fund for repairs and maintenance<br>(Note: section 52 of the Retail Leases Act 2003 provides for the landlord's liability for certain costs relating to repairs and maintenance work.)	$<br>$

14.11 Utility servicesElectricityGasOilWater $$$$
14.12 Waste managementSewerage disposalWaste collection and disposal $$
14.13 List any other outgoings $$$
14.14 Total outgoings for the building/centre $
14.15 Formula for determining tenant's share of the total outgoings for the building/centre
14.16 Estimated tenant contribution to outgoings $
PART 6 OTHER COSTS
15 Advertising and promotional costs
15.1 Is the tenant required to contribute towards advertising and promotional costs (including marketing fund contributions) for the building/centre? 🞏 Yes🞏 No
15.2 Tenant's contribution to advertising and promotional costs per annum 🞏 Not applicable 🞏 Yes—contribution per annum is $ Actual/Estimate 🞏 Yes—contribution per annum is % of the rent (excluding GST) payable from time to time 🞏 Yes [insert details of tenant's contribution per annum and how this is determined]
16 Other monetary obligations and charges
16.1 Outline any costs arising under the lease including up-front costs or other costs not part of the outgoings and not referred to elsewhere in this disclosure statement[e.g. interest and legal costs]
PART 7 ALTERATION WORKS (INCLUDING RENOVATIONS, EXTENSIONS, REDEVELOPMENT, DEMOLITION)
17 Alteration works
17.1 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to the premises or building/centre, including surrounding roads, during the term or any further term or terms? 🞏 Yes [insert details of the proposed works] 🞏 No
18 Clauses in lease dealing with relocation and demolition works
18.1 Clause(s) in lease providing for relocation of tenant 🞏 Clause(s) of the lease 🞏 Not applicable
18.2 Clause(s) in lease providing for demolition of the premises or building/centre 🞏 Clause(s) of the lease 🞏 Not applicable
PART 8 TRADING HOURS
19 Core trading hours relevant to the tenant
Monday Tuesday Wednesday Thursday Friday a.m. to p.m. a.m. to p.m. a.m. to p.m. a.m. to p.m. a.m. to p.m.
Saturday Sunday a.m. to p.m. a.m. to p.m.
Public holidays a.m. to p.m.
20 Tenant access to premises outside core trading hours
20.1 Is the tenant permitted to access the premises and building/centre outside core trading hours? 🞏 Yes [provide details including cost of access] 🞏 No
PART 9 RETAIL SHOPPING CENTRE DETAILS
21 Retail shopping centre details
21.1 Total number of shops shops
21.2 Gross lettable area of the centre m2Actual/Estimate
22 Annual turnover of the shopping centre
22.1 Annual estimated turnover (where collected) $Including GST/ Excluding GST
22.2 Annual estimated turnover by specialty shops per m2 (where collected) Food

Non-food

Services $ per m2 Including GST/ Excluding GST$ per m2 Including GST/ Excluding GST$ per m2 Including GST/ Excluding GST

23 Major/anchor tenants
23.1 Major/anchor tenants and lease expiry dates[list all major and anchor tenants (e.g. department stores, discount department stores, supermarkets) and the dates on which leases held by those tenants expire]
24 Floor plan and tenancy mix
24.1 Floor plan showing tenancy mix, common areas, common area trading, kiosks and major tenants 🞏 Attached as per item 33.4
24.2 Does the landlord assure the tenant that the current tenant mix will not be altered by the introduction of a competitor? 🞏 Yes🞏 No
25 Customer traffic flow information
25.1 Does the landlord collect customer traffic flow information? 🞏 Yes—attached as per item 33.5🞏 No
26 Casual mall licensing for common areas
26.1 Does the landlord adhere to the Shopping Centre Council of Australia's Casual Mall Licensing Code of Practice? 🞏 Yes—casual mall licensing policy attached as per item 33.6🞏 No
PART 10 OTHER DISCLOSURES
27 Other disclosures
27.1 Are there any current legal proceedings in relation to the lawful use of the premises or building/centre?🞏 Yes[provide details]🞏 No
27.2 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to land adjacent to or in close proximity to the premises or building/centre, during the term or any further term or terms?🞏 Yes[provide details]🞏 No
28 Representations by landlord
28.1 Any other representations by the landlord or the landlord's agent[landlord to insert details of any other oral or written representations made by the landlord or the landlord's agent]
PART 11 LANDLORD ACKNOWLEDGEMENTS AND SIGNATURE
29 Acknowledgements by landlord
By signing this disclosure statement, the landlord confirms and acknowledges that: ● this disclosure statement contains all representations in relation to the proposed lease by the landlord and the landlord's agents as at the date of this disclosure statement; ● this disclosure statement reflects all agreements that have been made by the parties; ● the landlord has not knowingly withheld information which is likely to have an impact on the tenant's proposed business.
Warnings to landlord when completing this disclosure statement: ● the tenant may have remedies including termination of lease if the information in this statement is misleading, false or materially incomplete.
30 Landlord's signature
30.1 Name of landlord[insert name of landlord]
30.2 Signed by the landlord or the landlord's agent for and on behalf of the landlordx................................................................
30.3 Name of the landlord's authorised representative or landlord's agent[insert name of person signing with the authority of the landlord]
30.4 Date / /20
PART 12 TENANT ACKNOWLEDGEMENTS AND SIGNATURE
31 Acknowledgements by the tenant
By signing this disclosure statement, the tenant confirms and acknowledges that the tenant received this disclosure statement.
Before entering into a lease, tenants should consider these key questions: ● Does the planning authority allow your proposed use for the premises under planning law? ● Is the security of your occupancy affected by: ● mortgages, charges or encumbrances granted by the landlord? ● rights and obligations under a head lease? ● Does the premises comply with building and safety regulations? Is the premises affected by outstanding notices by any authority? ● Could your trading be affected by disturbances or changes to the building/centre? ● Does the landlord require you to refurbish the premises regularly or at the end of the lease?
● Can the landlord end the lease early even if you comply with the lease? ● Are all the existing structures, fixtures and plant and equipment in good working order? ● Are you required to make good the premises at the end of the lease? ● Is the tenancy mix of the shopping centre likely to change during the term of the lease? [see item 24.2]
32 Tenant's signature
It is important that a tenant seek independent legal and financial advice before entering into a lease.
32.1 Name of tenant[insert name of tenant]
32.2 Signed by the tenant or for and on behalf of the tenantx......................................................................
32.3 Name of the tenant's authorised representative[insert name of person signing with the authority of the tenant]
32.4 Date / /20
PART 13 ATTACHMENTS
33 List of attachments
Attached?
33.1 Plan of premises [see item 1.2] 🞏 Yes🞏 Not applicable
33.2 Head lease or Crown lease [see item 4.2] 🞏 Yes🞏 Not applicable
33.3 Additional attachments[list of any additional attachments]
33.4 Floor plan [see item 24.1] 🞏 Yes🞏 Not applicable
33.5 Customer traffic flow statistics [see item 25.1] 🞏 Yes🞏 Not applicable
33.6 Casual mall licensing policy [see item 26.1] 🞏 Yes🞏 Not applicable
33.7 Additional attachments relating to the retail shopping centre[list of any additional attachments]

Schedule 3—Landlord's disclosure statement on renewal of lease

Regulation 8

Landlord's Disclosure Statement on Renewal of Lease

by the landlord under section 26(1) of the
Retail Leases Act 2003

NOTE

This statement is to be completed by the landlord for renewed leases under section 26(1) of the Retail Leases Act 2003.

If the tenant has exercised or is entitled to exercise an option to renew a retail premises lease, the landlord is required to provide this statement to the tenant at least 21 days before the end of the current term.

In the situation where all of the parties to a retail premises lease enter into an agreement to renew the lease, the landlord is required to provide this statement to the tenant no later than 14 days after the entering into of the agreement.

The layout of this statement does not need to be the same as the prescribed disclosure statement in the Retail Leases Regulations 2023.

It is recommended that a tenant obtain independent legal and financial advice before renewing a retail premises lease.

The tenant has remedies including termination of a lease under the Retail Leases Act 2003 if information in this statement is misleading, false or materially incomplete.

Information contained in this statement is correct as at the date of this statement but may change after the date of this statement and during the term of the lease.

DISCLOSURE STATEMENT
by the landlord

Landlord:
Tenant:
Premises:

PART 1 KEY INFORMATION
1 Renewal of lease
1.1 Date on which the option to renew the lease agreement for the premises was exercised, or date on which all of the parties to the lease entered into an agreement to renew the lease. [landlord to insert date]
1.2 Details of any changes from previous disclosure statement.
2 Alteration works
2.1 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to the premises or building/centre, including surrounding roads, during the term or any further term or terms? 🞏 Yes [insert details of the proposed works] 🞏 No
2.2 Details of any changes from previous disclosure statement.
3 Other matters
3.1 Are there any other matters that may materially affect the tenant's ongoing business and are not referred to in the lease? [e.g. current legal proceedings, planned changes to tenancy mix]🞏 Yes[insert details]🞏 No
3.2 Are there any alteration or demolition works, planned or known to the landlord at this point in time, to land adjacent to or in close proximity to the premises or building/centre, during the term or any further term or terms?🞏 Yes[provide details]🞏 No
3.3 Details of any changes from previous disclosure statement.
4 Other monetary obligations and charges
4.1 Outline any other costs arising under the renewed lease not including costs that are: referred to in the statement of outgoings under section 47 of the Retail Leases Act 2003; or  referred to elsewhere in this disclosure statement.[e.g. interest and legal costs]
4.2 Details of any changes from previous disclosure statement.
PART 2 LANDLORD ACKNOWLEDGEMENTS AND SIGNATURE
5 Acknowledgements by landlord
By signing this disclosure statement, the landlord confirms and acknowledges that: ● the landlord has not knowingly withheld information that may materially affect the tenant's ongoing business.
Warning to landlord when completing this disclosure statement: ● the tenant may have remedies including termination of lease if the information in this statement is misleading, false or materially incomplete.
6 Landlord's signature
6.1 Name of landlord[insert name of landlord]
6.2 Signed by the landlord or the landlord's agent for and on behalf of the landlordx................................................................
6.3 Name of the landlord's authorised representative or landlord's agent[insert name of person signing with the authority of the landlord]
6.4 Date / /20
PART 3 TENANT ACKNOWLEDGEMENTS AND SIGNATURE
7 Acknowledgements by the tenant
By signing this disclosure statement, the tenant confirms and acknowledges that the tenant received this disclosure statement.
8 Tenant's signature
It is important that a tenant seek independent legal and financial advice before renewing the lease.
8.1 Name of tenant[insert name of tenant]
8.2 Signed by the tenant or for and on behalf of the tenantx......................................................................
8.3 Name of the tenant's authorised representative[insert name of person signing with the authority of the tenant]
8.4 Date / /20

Schedule 4—Disclosure statement—assigned lease where ongoing business

Regulation 12(2)

Disclosure Statement—Assigned Lease Where Ongoing Business

by the tenant under section 61(5A) of the
Retail Leases Act 2003

NOTE

This statement is to be completed by the tenant if a lease assignment referred to in section 61(5A) of the Retail Leases Act 2003 is proposed. The statement should be provided to the landlord and proposed assignee.

Before the tenant requests the landlord's consent to the assignment, the tenant must give the proposed assignee a copy of the landlord's disclosure statement and details of changes that have affected the information in that statement since it was given to the tenant (see section 61(3) of the Retail Leases Act 2003).

The layout of this statement does not need to be the same as the prescribed disclosure statement in the Retail Leases Regulations 2023.

It is recommended that a proposed assignee obtain independent legal and financial advice before taking an assignment of a retail premises lease.

Information contained in this statement is correct as at the date of this statement but may change after the date of this statement and during the term of the lease.

DISCLOSURE STATEMENT
by the tenant

Tenant:
Proposed assignee:
Landlord:
Premises:

PART 1 ASSIGNMENT
1 Business records
1.1 Has the tenant provided the proposed assignee with business records for the previous 3 years or such shorter period as the tenant has carried on business at the premises? 🞏 Yes 🞏 No
2 Landlord notices
2.1 Over the term of the current lease agreement, has the landlord given any notices under the Retail Leases Act 2003 to the tenant? 🞏 Yes [insert details of notices given by the landlord] 🞏 No
3 Lease variations
3.1 Have there been any material variations to the lease since the lease was first granted or last renewed? 🞏 Yes [insert details of lease variations] 🞏 No
4 Advice on outgoings
4.1 If the tenant had occupied the premises for a period of greater than 12 months, what type and value of outgoings was the tenant liable to pay to the landlord with respect to the premises over the last 12 months?[tenant to list the type and value of outgoings paid to the landlord over the previous 12 month period]
5 Disputes
5.1 Are there any current disputes between the landlord and tenant under or in relation to the lease? 🞏 Yes [insert details] 🞏 No
6 Other matters
6.1 Are there any matters not connected to the lease agreement, planned or known to the tenant at this point in time that may materially affect the viability of the ongoing business over the remaining lease period? 🞏 Yes [insert details] 🞏 No
6.2 Are there any alteration or demolition works, planned or known to the tenant at this point in time, to the premises or building/centre, including surrounding roads, during the term or any further term or terms?🞏 Yes [provide details] 🞏 No
6.3 Are there any alteration or demolition works, planned or known to the tenant at this point in time, to land adjacent to or in close proximity to the premises or building/centre, during the term or any further term or terms?🞏 Yes [provide details] 🞏 No
PART 2 TENANT ACKNOWLEDGEMENTS AND SIGNATURE
7 Acknowledgements by tenant
By signing this disclosure statement, the tenant confirms and acknowledges that: ● this disclosure statement contains all representations in relation to the proposed lease and ongoing business by the tenant and the tenant's agents as at the date of this disclosure statement; ● the tenant has not knowingly withheld information that may materially affect the proposed assignee's ongoing business.
8 Tenant's signature
8.1 Name of tenant[insert name of tenant]
8.2 Signed by the tenant or the tenant's agent for and on behalf of the tenantx................................................................
8.3 Name of the tenant's authorised representative or tenant's agent[insert name of person signing with the authority of the tenant]
8.4 Date / /20
PART 3 PROPOSED ASSIGNEE ACKNOWLEDGEMENTS AND SIGNATURE
9 Acknowledgements by the proposed assignee
By signing this disclosure statement, the proposed assignee confirms and acknowledges that the proposed assignee received this disclosure statement.
10 Proposed assignee's signature
It is important that a proposed assignee seek independent legal and financial advice before taking assignment of a lease.
10.1 Name of proposed assignee[insert name of proposed assignee]
10.2 Signed by the proposed assignee or for and on behalf of the proposed assigneex......................................................................
10.3 Name of the proposed assignee's authorised representative[insert name of person signing with the authority of the proposed assignee]
10.4 Date / /20
PART 4 LANDLORD ACKNOWLEDGEMENTS AND SIGNATURE
11 Acknowledgements by landlord
By signing this disclosure statement, the landlord confirms and acknowledges that the landlord received this disclosure statement.
12 Landlord's signature
12.1 Name of landlord[insert name of landlord]
12.2 Signed by the landlord or the landlord's agent for and on behalf of the landlordx................................................................
12.3 Name of the landlord's authorised representative or landlord's agent[insert name of person signing with the authority of the landlord]

═════════════

Endnotes

1 General information

See www.legislation.vic.gov.au for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.

The Retail Leases Regulations 2023, S.R. No. 24/2023 were made on 4 April 2023 by the Lieutenant-Governor as the Governor's deputy, with the advice of the Executive Council, under section 99 of the Retail Leases Act 2003, No. 4/2003 and came into operation on 15 April 2023: regulation 3.

The Retail Leases Regulations 2023 will sunset 10 years after the day of making on 4 April 2033 (see section 5 of the Subordinate Legislation Act 1994).

INTERPRETATION OF LEGISLATION ACT 1984 (ILA)

Style changes

Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.

References to ILA s. 39B

Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided regulation, rule or clause of a Schedule is amended by the insertion of one or more subregulations, subrules or subclauses the original regulation, rule or clause becomes subregulation, subrule or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original regulation, rule or clause.

Interpretation

As from 1 January 2001, amendments to section 36 of the ILA have the following effects:

• Headings

All headings included in a Statutory Rule which is made on or after
1 January 2001 form part of that Statutory Rule. Any heading inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
This includes headings to Parts, Divisions or Subdivisions in a Schedule; Orders; Parts into which an Order is divided; clauses; regulations; rules; items; tables; columns; examples; diagrams; notes or forms.
See section 36(1A)(2A)(2B).

• Examples, diagrams or notes

All examples, diagrams or notes included in a Statutory Rule which is made on or after 1 January 2001 form part of that Statutory Rule. Any examples, diagrams or notes inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, form part of that Statutory Rule. See section 36(3A).

• Punctuation

All punctuation included in a Statutory Rule which is made on or after
1 January 2001 forms part of that Statutory Rule. Any punctuation inserted in a Statutory Rule which was made before 1 January 2001, by a Statutory Rule made on or after 1 January 2001, forms part of that Statutory Rule.
See section 36(3B).

• Provision numbers

All provision numbers included in a Statutory Rule form part of that Statutory Rule, whether inserted in the Statutory Rule before, on or after
1 January 2001. Provision numbers include regulation numbers, rule numbers, subregulation numbers, subrule numbers, paragraphs and subparagraphs. See section 36(3C).

• Location of "legislative items"

A "legislative item" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of a Statutory Rule is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.

• Other material

Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of a Statutory Rule. See section 36(3)(3D)(3E).

2 Table of Amendments

There are no amendments made to the Retail Leases Regulations 2023 by statutory rules, subordinate instruments and Acts.

3 Explanatory details

Reg. 4(a): S.R. No. 41/2013 as amended by S.R. No. 99/2022. ↑
Reg. 4(b): S.R. No. 99/2022. ↑

1 Retail Leases Regulations 2023

Version No. 001

Retail Leases Regulations 2023

S.R. No. 24/2023

Version as at
15 April 2023

TABLE OF PROVISIONS

Regulation Page

1 Objectives 1

2 Authorising provision 1

3 Commencement 1

4 Revocations 1

5 Definitions 2

6 Meaning of retail premises 2

7 Provision of landlord's disclosure statement and proposed lease 2

8 Landlord's disclosure on renewal of lease 3

9 Recovery of outgoings from the tenant 3

10 Liability to contribute to non-specific outgoings 3

11 Statement of outgoings 3

12 Procedure for obtaining consent to assignment 3

Schedule 1—Landlord's disclosure statement—retail premises not located in retail shopping centres 5

Schedule 2—Landlord's disclosure statement—retail premises located in retail shopping centres 17

Schedule 3—Landlord's disclosure statement on renewal of lease 33

Schedule 4—Disclosure statement—assigned lease where ongoing business 37

═════════════

Endnotes 42

1 General information 42

2 Table of Amendments 44

3 Explanatory details 45

Version No. 001

Retail Leases Regulations 2023

S.R. No. 24/2023

Version as at
15 April 2023

1 Objectives

The main objectives of these Regulations are—

(a) to make provision for the amount of occupancy costs for the purpose of excluding certain retail premises; and

(b) to make provision for the amount of outgoings payable by a tenant; and

(d) to prescribe other matters required to be prescribed by the Retail Leases Act 2003.

2 Authorising provision

These Regulations are made under section 99 of the Retail Leases Act 2003.

3 Commencement

Several core technical concepts structure these Regulations. Each is defined or deployed in the text and connected to particular provisions of the Retail Leases Act 2003.

Relevant fraction. Defined in reg 5 as the fraction A/B, where A is the lettable area of the retail premises and B is the total lettable area of all premises that receive the benefit of the outgoings. This fraction is the central mathematical device used in regs 9 and 10 to determine apportionment of outgoings and to cap tenant liability for non‑specific outgoings. The formula ties financial liability to spatial proportionate benefit. The source gives the variables explicitly; practitioners must ensure accurate measurement of lettable areas to apply the fraction reliably.
Prescribed amount for occupancy costs. Reg 6(1) prescribes $1,000,000 per annum exclusive of GST as the monetary threshold for the purposes of s 4(2)(a) of the Retail Leases Act 2003. The Regulations therefore operationalise the statutory exclusion/inclusion test by setting a fixed monetary cut‑off. The prescription is explicit about GST exclusion.
Other cost of a prescribed kind. Reg 6(2) prescribes “advertising and promotional services, including marketing fund contributions” as an “other cost of a prescribed kind” relevant to s 4(3)(c) of the Act. That prescription brings marketing fund levies and like promotional charges into the statutory definition used elsewhere in the Act and Regulations.
Apportionment and caps for outgoings. Reg 9 permits determination and apportionment of an outgoing by multiplying the total amount by the relevant fraction. Reg 10 applies the same arithmetic as a liability cap: a tenant is not liable to contribute towards a landlord’s outgoing in excess of the total multiplied by the relevant fraction. The twin rules create a mechanical parity between calculation and maximum liability, both driven by the same fraction.
Prescribed percentage and prescribed outgoings for statement of outgoings. Reg 11(1) prescribes a 10 per cent percentage for the purposes of s 47(5)(b)(i) of the Act; reg 11(2) prescribes two specific items, fire services property levy and owners corporation fees, as other outgoings for the purposes of s 47(6)(a)(v). The Regulations therefore define both thresholds and specific items that must be treated in particular ways when landlord must produce statements of outgoings under s 47.
Statutory disclosure forms. Schedules 1-4 are the Regulations’ operational core. Schedule 1 is the model Landlord’s Disclosure Statement for premises outside retail shopping centres, Schedule 2 is the counterpart for shopping centres with additional centre‑specific items (turnover, tenant mix, casual mall licensing policy, trading hours), Schedule 3 is the prescribed disclosure on renewal and Schedule 4 is the tenant’s disclosure on assignment for ongoing businesses. Each Schedule specifies fields, attachments and acknowledgement statements; Schedules also include timing guidance (for example, Schedules 1 and 2 indicate the disclosure must be provided at least 14 days before signing; Schedule 3 specifies 21 days for renewals when options are exercised).
Interaction with other Acts. The Regulations adopt definitions or referential links to other statutes. Reg 5 adopts the meaning of “fire services property levy” from the Fire Services Property Levy Act 2012. The endnotes remind that the Regulations are made under s 99 of the Retail Leases Act 2003 and that the Subordinate Legislation Act 1994 governs sunset. The Interpretation of Legislation Act 1984 (ILA) is noted in the endnotes to clarify that headings, examples and diagrammatical matter in the Regulations form part of the statutory instrument.

These concepts collectively convert broad statutory duties in the Act into measurable obligations: the Regulations set who must provide what information, when, and how monetary apportionments should be calculated. The effect is to reduce ambiguity in the Act by prescribing standardised templates, fixed monetary values and arithmetic rules. That mechanistic clarity shifts compliance risk onto accurate measurement and timely provision of the prescribed material.

The Regulations identify two principal groups directly affected: landlords and tenants of retail premises covered by the Retail Leases Act 2003, plus third parties involved in assignment or head‑lease structures.

Landlords. The Regulations require landlords to provide detailed landlord disclosure statements in a prescribed form (reg 7). Schedule 1 applies to premises outside retail shopping centres; Schedule 2 applies to premises within centres and includes additional items specific to shopping centre operations (e.g. turnover information, tenant mix, casual mall licensing policy). Landlords must complete detailed items about premises, allowed use, rent, rent review, outgoings estimates, marketing fund contributions, works, and attachments such as head leases and floor plans (Schedules 1 and 2). Landlords must also provide the renewal disclosure in Schedule 3 when required by s 26(1) of the Act, following the timing set out in Schedule 3.
Tenants. Tenants receive the disclosure statements and gain the statutory protections attached to accurate disclosure. The Schedules contain explicit warnings that tenants may have remedies, including termination, if the disclosure is misleading, false or materially incomplete (Schedules 1, 2 and 3). Tenants must be provided the landlord’s disclosure statement together with a copy of the proposed lease at least 14 days before signing (Schedules 1 and 2). Tenants proposing assignment of an ongoing business must provide the proposed assignee with the landlord’s disclosure statement and details of any subsequent changes (Schedule 4 note referencing s 61(3) of the Act). Where the tenant seeks the landlord’s consent to assignment, the Regulations prescribe the tenant’s disclosure statement format (reg 12(2) and Schedule 4).
Proposed assignees. Schedule 4 is a disclosure by the tenant to the proposed assignee and the landlord in assignments where the business is ongoing. It requires the tenant to disclose business records, landlord notices, lease variations and a 12‑month history of outgoings if the tenant has occupied the premises more than 12 months. The proposed assignee must sign an acknowledgement in Schedule 4, signalling receipt of this information.
Head landlords and head lease parties. The Schedules require disclosure about the existence and terms of head leases or Crown leases (e.g. items concerning whether the premises are under a head lease, whether head landlord consent is required, and copies of the head lease where applicable; Schedules 1 and 2, items 4.x). Where premises are under head leases, landlords must disclose current term and options under the head lease.
Shopping centre operators and managers. Schedule 2 contains items directly tailored to shopping centres: customer traffic flow statistics, details of anchor tenants and expiry dates, gross lettable area, turnover figures (where collected), trading hours and casual mall licensing policies. Those operational data requirements principally affect centre owners, managers and their agents who compile and publish those statistics.
Professionals advising parties. The Schedules repeatedly recommend that tenants (and proposed assignees) seek independent legal and financial advice. That creates demand for legal and accounting advice to interpret the Schedules, calculate relevant fractions and review attachments such as plans, head leases and customer traffic statistics.
Regulatory administrators. The Regulations were made under s 99 of the Retail Leases Act 2003 (reg 2). Administrative enforcement and remedies for misleading disclosure are contained in the parent Act; the Regulations themselves prescribe forms and formulas that agencies or tribunals applying the Act will use to determine compliance.

Who pays. Practically, landlords bear the upfront administrative burden of preparing full, signed disclosure statements in the prescribed forms and supplying attachments and estimates. Tenants bear the cost of obtaining advice and, in the assignment context, compiling business records and tenant disclosure (Schedule 4). Parties may also bear the cost of surveying lettable areas where accuracy of the “relevant fraction” is required (the Schedules ask whether a survey will be conducted, Schedule 1 and 2 item 1.3).

Who decides. The Regulations reduce discretionary choice over form and content: decision points become factual (e.g. the lettable area, whether marketing contributions apply) rather than legal drafting choices. Landlords decide the content to provide but must do so within the structured fields of the Schedules; landlords and tenants must decide whether to obtain surveys and professional advice to support the figures entered.

The Regulations therefore reallocate compliance activity: landlords must prepare standardized disclosures and capture specified building and centre data; tenants and proposed assignees must evaluate those disclosures, possibly procuring surveys and professional advice to verify or challenge the data.

The Regulations articulate duties (mostly on landlords, some on tenants in assignment contexts) and codify rights and procedural protections implicit in the Retail Leases Act 2003.

Duties (explicit in the Regulations and Schedules)

Provide landlord’s disclosure statement in the prescribed form. Reg 7 requires landlords to use Schedule 1 or Schedule 2 depending on whether premises are in a retail shopping centre. Schedules prescribe comprehensive fields covering premises description, permitted use, rent, rent review, fit‑out contributions, detailed outgoings estimates and attachments (Schedules 1 and 2).
Timing of initial disclosure. Schedules 1 and 2 include a note that the landlord must provide the disclosure statement and proposed lease at least 14 days before signing a new lease. The note further states that if provided less than 14 days before entry into the lease, the lease is taken to commence 14 days after the disclosure statement and proposed lease have been given to the tenant. This constructs a statutory cooling or verification period by operation of the Schedule.
Renewal disclosure duty. Reg 8 prescribes Schedule 3 as the form of disclosure for renewals under s 26(1) of the Act. Schedule 3 sets the timing: where an option to renew has been exercised the landlord must provide the statement at least 21 days before the end of the current term; where all parties agree to renew the landlord must provide the statement no later than 14 days after the agreement to renew.
Assignment disclosure duties. Reg 12(1) obliges the landlord, for the purposes of obtaining consent to assignment under s 61(5) of the Act, to use the relevant Schedule for the landlord’s disclosure; reg 12(2) prescribes Schedule 4 as the tenant’s disclosure statement format under s 61(5A) where an ongoing business assignment is proposed. The tenant must give the proposed assignee a copy of the landlord’s disclosure statement and details of changes since it was given to the tenant prior to requesting the landlord’s consent (Schedule 4 note referencing s 61(3) of the Act).
Apportionment and liability caps for outgoings. Reg 9 directs that apportionment may be calculated by multiplying the total outgoing by the relevant fraction. Reg 10 uses the same multiplication to set the maximum tenant liability for non‑specific outgoings. Practically, landlords must apply the fraction when charging tenants for shared outgoings; tenants have a statutory ceiling.
Inclusion of particular outgoings. Reg 6(2) prescribes advertising and promotional services, including marketing fund contributions, as an “other cost of a prescribed kind” for s 4(3)(c) of the Act. Reg 11(2) prescribes the fire services property levy and owners corporation fees as “other outgoings” for the purposes of s 47(6)(a)(v). Landlords are obliged to treat and disclose these items in the ways the Act contemplates.

Rights and statutory protections (as referenced in the Schedules)

Tenant remedies for defective disclosure. The Schedules repeatedly warn that tenants have remedies, including termination of a lease under the Retail Leases Act 2003, if the information supplied in the disclosure statement is misleading, false or materially incomplete (Schedules 1, 2 and 3). The Regulations therefore operate to trigger existing Act remedies where prescribed disclosure is not truthful or complete.
Right to a minimum disclosure period. The 14‑day minimum for initial disclosure (Schedules 1 and 2) and the 21‑day or 14‑day thresholds for renewals (Schedule 3) provide tenants with statutory time windows to review information and seek advice before committing.
Cap on tenant liability. Through reg 10, tenants have a statutory ceiling on liability for non‑specific outgoings equal to the outgoing total multiplied by the relevant fraction. That converts abstract notions of “shared benefit” into a calculated cap.
Information entitlements in shopping centre contexts. Schedule 2 grants tenants entitlement to more centre‑level information (e.g. anchor tenant lists, tenant mix floor plans, customer traffic flow statistics, turnover data where collected) which enables tenants to assess trading environment risk and potential competition. The Schedule also requires landlords to state whether the tenant has exclusivity and whether the tenant must contribute to centre advertising and promotional costs, including marketing fund contributions.

Operational duties that create follow‑on obligations

Attachment and signature requirements. The Schedules require landlords and tenants to sign acknowledgements and to attach specified documents (plans, head leases, floor plans, policies). Failure to attach has practical consequences for whether the disclosure is complete.
Measurement and survey decisions. Because the relevant fraction depends on lettable area, Schedules ask whether a survey will be conducted (Schedules 1 and 2, item 1.3). Parties must decide whether and when to undertake surveys. Accuracy of these measurements flows through to apportionment and liability.

The Regulations thus convert broad statutory duties in the parent Act into concrete, repeatable administrative acts: producing a completed Schedule form with attachments and signatures within stated timeframes, calculating apportionments via the relevant fraction and applying the 10 per cent prescribed percentage where s 47 is invoked. The rights are principally informational and remedial rather than creating new private rights beyond those embedded in the Act.

The Regulations do not themselves set out criminal penalties or named monetary fines within their text. Instead they are instruments that prescribe methods, forms and numeric values necessary for compliance with the Retail Leases Act 2003 and rely on the enforcement mechanisms and remedies provided in that Act. The Schedules repeatedly state that “the tenant has remedies including termination of a lease under the Retail Leases Act 2003 if information in this statement is misleading, false or materially incomplete” (Schedules 1, 2 and 3). That language signals that the Act’s remedial and enforcement framework is the operative mechanism when disclosure is deficient.

Enforcement pathways and consequences that follow from the Regulations (as the Regulations themselves set them up)

Contractual and statutory remedies in the parent Act. The Schedules invoke remedies under the Retail Leases Act 2003 for misleading or incomplete disclosure. The Regulations therefore function as a compliance precondition: incorrect or incomplete completion of a Schedule can trigger statutory remedies in the parent Act, such as termination rights, rescission‑type remedies, or damages, subject to the Act’s provisions. The Regulations do not themselves list or quantify those remedies; they reference them as the enforcement consequence.
Administrative effect of timing rules. The 14‑day and 21‑day timing provisions in the Schedules have mechanical legal consequences: for example, Schedules 1 and 2 state that if the landlord provides the disclosure statement and the proposed lease less than 14 days before the lease is entered into, the lease is taken to commence 14 days after the disclosure statement and proposed lease are given to the tenant. That is a statutory effect which alters commencement timing and can affect rent and other date‑driven obligations.
Evidence and admissibility. The Regulations prescribe signed disclosure forms, attachments and specific data. These documents will be central evidence in any dispute under the Act: an accurately completed Schedule and attachments provide the primary documentary foundation for determining whether a disclosure was “misleading, false or materially incomplete.”
Civil enforcement dynamics. Given that the Regulations are largely prescriptive of forms and calculation methods, enforcement will be civil and fact driven. The prescribed arithmetic for apportionment and the explicit caps on liability (reg 10) reduce litigation over the apportionment method but leave contested issues about the underlying data (e.g. how lettable areas are measured, whether particular items have been accurately estimated or included).

Practical enforcement features to note

No new monetary civil penalties are created by these Regulations themselves, and no administrative penalty scheme is set out in the text. Enforcement therefore depends on the Act’s existing remedies and any tribunal or court processes under that Act.
The Regulations’ insistence on specific attachments (plans, head leases, traffic data) effectively raises the evidentiary bar for proving disclosure compliance. Failure to attach required documents may be used as a factual basis for alleging defective disclosure under the Act.
The prescribed percentage (reg 11(1) , 10 per cent) and the prescribed other outgoings (reg 11(2)) create specific triggers and definitional clarity that tribunals or courts will apply when assessing s 47 disputes. Parties should map those Regulations to the Act provisions they operate under.

In short, the Regulations structure enforcement by standardising forms and calculation rules and by making the Act’s remedial machinery easier to apply to objectively documented facts. The Regulations do not create their own independent penalty regime; they channel disputes back into the Retail Leases Act 2003’s remedy framework.

The Regulations are expressly made under s 99 of the Retail Leases Act 2003 (reg 2) and repeatedly reference and operationalise provisions of that Act. The Regulations are therefore subsidiary to, and functional parts of, the Retail Leases Act 2003 regulatory architecture.

Direct interactions and cross‑references in the text

Retail Leases Act 2003. The Regulations implement a number of the Act’s prescription points: the landlord’s disclosure statement required by section 17(1)(a) is prescribed by reg 7 via Schedules 1 and 2; renewal disclosure under s 26(1) is prescribed by reg 8 via Schedule 3; assignments and tenant disclosure under ss 61(5) and 61(5A) are prescribed by reg 12 via Schedules 1, 2 and 4; apportionment and liability rules in regs 9 and 10 are expressly for the purposes of ss 39(2) and 40(2) respectively; the prescribed percentage in reg 11(1) is stated to be for the purposes of s 47(5)(b)(i) of the Act and reg 11(2) prescribes certain outgoings for s 47(6)(a)(v). Practitioners must map the Regulations to the specific sections cited to understand the legal consequences the Act provides for defective or incomplete disclosure.
Fire Services Property Levy Act 2012. Reg 5 adopts the same meaning for “fire services property levy” as “levy” in s 3 of the Fire Services Property Levy Act 2012, and reg 11(2) expressly lists the fire services property levy as an item to be treated as an “other outgoing” under the Act’s statement provisions. This cross‑reference pulls a statutory levy administered under a separate Act into the retail leases outgoing regime for disclosure and charging purposes.
Subordinate Legislation Act 1994. The endnotes state the Regulations will sunset 10 years after making, per s 5 of the Subordinate Legislation Act 1994. That interaction creates an expiry mechanism independent of the parent Act and requires policymakers and administrators to review or re‑make the instrument before 4 April 2033 if continuity is required.
Interpretation of Legislation Act 1984 (ILA). The endnotes draw attention to the ILA interpretive rules (headings, examples and diagrams form part of the instrument). That matters for how Schedules, notes and examples are treated in enforcement. Because the Schedules include numerous notes and examples (for instance, the timing notes and advisories to tenants to seek advice), those materials are statutory elements of the Regulations rather than mere explanatory guidance.

Operational legal interactions and consequences

Evidence and statutory construction. The Regulations’ detailed Schedules, attachments and explicit cross‑references to Act sections will be used to construe parties’ obligations in disputes under the Act. Administrative panels and courts will treat the Schedules as statutory form requirements given the ILA interpretive rules referenced in the endnotes.
Head lease and Crown lease implications. The Schedules require disclosure of head lease existence, term and options (Schedules 1 and 2). Where a retail tenancy is under a head lease, the Regulations require the landlord to disclose material head lease facts. Those disclosures operate at the interface of retail tenancy obligations and the property contractual chain involving head landlords.
Tax and GST interactions. Reg 6(1) specifies the occupancy threshold exclusive of GST. The Regulations therefore require parties and advisers to treat GST as separate and to be precise about GST treatment. The Schedules ask landlords to state whether estimates and figures are "Including/Excluding GST" for various items (Schedules 1 and 2). Practitioners must therefore integrate the Regulations’ monetary prescriptions with tax and GST accounting practices.

Limits on what the Regulations change

The Regulations do not alter the substantive rights and remedies created by the Retail Leases Act 2003. They prescribe the forms, thresholds and formulas necessary to operationalise the Act but do not add new statutory causes of action or criminal offences within their own text.
The Regulations do not provide exhaustive definitions of all terms used in the Act. For example, the Regulations adopt a definition by reference for “fire services property levy” (reg 5) but otherwise rely on the Act for legal definitions and remedies; practitioners must read the Regulations and the Act together.

In summary, the Regulations sit as a subordinate and functional layer under the Retail Leases Act 2003, importing definitions from related Acts where needed and invoking interpretive rules from the ILA and sunset mechanics from the Subordinate Legislation Act 1994. Practitioners must cross‑reference the specific Act provisions cited in the Regulations to determine enforcement rights and liabilities.

The Regulations were made by the Lieutenant‑Governor, with the advice of the Executive Council, on 4 April 2023 and came into operation on 15 April 2023 (endnotes; reg 3). Regulation 4 expressly revokes the Retail Leases Regulations 2013 and the Retail Leases Amendment Regulations 2022 (reg 4(a) and (b)). The endnotes confirm the Regulations will sunset 10 years after the day of making, i.e. on 4 April 2033, under the Subordinate Legislation Act 1994 (endnotes, General information).

Specific amendment‑history notes supplied in the instrument

Reg 4 lists the prior instruments that are revoked: S.R. No. 41/2013 as amended by S.R. No. 99/2022 and S.R. No. 99/2022. Those revocations mean that the detailed disclosure templates, thresholds and apportionment rules in the 2013 and 2022 instruments have been superseded by the 2023 Regulations.
The Table of Amendments in the endnotes states there are no amendments to the Retail Leases Regulations 2023 by statutory rules, subordinate instruments or Acts as at the version date (Version as at 15 April 2023). That indicates that, at least up to the version date, the instrument stands as originally made.

Points of continuity and change a practitioner should note

Continuity of function, change of detail. The Regulations continue the long‑standing practice of prescribing disclosure forms and apportionment rules required by the Act, but update particular thresholds and the content of disclosure templates. For example, reg 6(1) sets the occupancy amount at $1,000,000 per annum exclusive of GST. Practitioners should compare that numeric threshold to prior instruments if assessing transitional effects or historical practice.
Sunset review deadline. The 10‑year sunset means that policy makers (and regulated parties) should expect a review or re‑registration exercise before April 2033. That creates an administrative timeline for any proposed substantive changes to the form or thresholds.
Repeal of earlier instruments. The revocation in reg 4 is immediate in operation from the commencement date; so any practices that relied on the 2013 or 2022 Regulations must be reviewed in favour of the 2023 forms and rules.
No recorded subsequent amendments. The Table of Amendments entry reads “There are no amendments made to the Retail Leases Regulations 2023 by statutory rules, subordinate instruments and Acts” (endnotes, Table of Amendments). That is confirmation that the instrument stands without subsequent statutory change up to the version date.

Practitioners advising clients on compliance or transitional matters must therefore treat the 2023 Regulations as the primary subordinate instrument implementing disclosure, apportionment and related rules under the Retail Leases Act 2003 from 15 April 2023 onwards, mindful of the automatic sunset in 2033 and the express revocation of prior instruments.

The Regulations as supplied do not list any cases, decisions or adjudications. The instrument’s endnotes, Table of Amendments and Explanatory details contain no references to litigation. The Schedules repeatedly refer to remedies available under the Retail Leases Act 2003, including termination where a disclosure is misleading, false or materially incomplete, but they do not cite any judicial decisions applying those remedies.

What the absence of litigation references means in practice

No statutory cases named. The Regulations do not attempt to summarise or rely on case law. They stand as a prescriptive statutory instrument that supplies forms and numeric rules. Adjudicative interpretation of these forms and arithmetic rules will be developed in tribunal or court decisions over time, but none are reported or cited in the instrument itself.
Reliance on the parent Act’s jurisprudence. Disputes arising under the Act, and therefore disputes over compliance with the prescribed disclosure statements or apportionment rules, will be litigated under the Retail Leases Act 2003. Any body of case law that interprets provisions of the Act (for example, what constitutes “materially incomplete” disclosure) will be applied to these Regulations, but the Regulations do not record any such decisions.
Evidentiary and interpretive issues likely to arise. Although the Regulations do not record litigation, they create fact patterns likely to generate disputes: contested measurement of lettable area for the relevant fraction; whether marketing fund contributions are correctly categorised and disclosed per reg 6(2); adequacy of attachments such as head leases or traffic statistics; timing disputes over whether the 14‑day or 21‑day disclosure windows were respected. These are the kinds of issues that will produce litigation or tribunal determinations in the future.

Practical implications for advisers and litigators

Prepare for fact‑heavy disputes. Because the Regulations prescribe forms and arithmetic rules, disputes will be driven by factual questions (e.g. accuracy of area measurements, whether particular costs fall within prescribed categories). Lawyers should plan to deploy surveying evidence, financial records and centre management data when disputes occur.
Use the Schedules as primary documentary evidence. The signed Schedules and attachments will be central documents in any dispute. Their structure means they will be the starting point for claims that a disclosure was misleading or incomplete.
Monitor tribunal and court decisions over time. The absence of litigation history in the instrument itself means practitioners should track decisions under the Retail Leases Act 2003 and related tribunal jurisprudence to see how courts apply the 2023 Regulations in practice.

In short, there is no litigation history recorded within the Regulations document. The legal community should expect future litigation to focus on factual compliance with the prescribed forms, accuracy of data used to compute the relevant fraction, and the sufficiency of disclosure in the Schedules as applied against the Retail Leases Act 2003.

The Regulations contain several practical traps and detail‑sensitive points that advisers and parties should note. These are matters that create compliance risk, surprise liabilities or unintended timing outcomes where the instrument’s text is specific.

Occupancy threshold is exclusive of GST. Reg 6(1) prescribes $1,000,000 per annum exclusive of GST for s 4(2)(a) purposes. Practitioners must ensure GST is excluded when assessing whether a premises falls above or below the threshold. Mis‑calculating by including GST will misclassify premises and may lead to erroneous application of the Act’s protections or exclusions.
Relevant fraction depends on lettable area accuracy. The apportionment rules in regs 9 and 10 invoke the “relevant fraction” A/B defined in reg 5 where A is the lettable area of the premises and B is the total lettable area of all premises benefiting from the outgoing. Schedules 1 and 2 ask whether a survey will be conducted (item 1.3). If parties use estimated areas without surveys, small measurement differences can change apportionment and the liability cap. Parties should be aware that the Regulations rely on spatial measures and that a survey may be necessary to avoid disputes.
Timing consequences if disclosure is late. Schedules 1 and 2 provide that the statement and proposed lease must be provided at least 14 days before signing; if not, the lease is taken to commence 14 days after disclosure is given. That timing rule changes commencement dates and may have unintended effects on rent commencement, rent free periods and other date‑dependent obligations. Parties should not assume late disclosure is a mere technicality; it has concrete contractual consequences.
Renewal timing distinctions. Schedule 3 sets different timing requirements for renewals: if a tenant exercises an option, the landlord must provide the renewal disclosure at least 21 days before the end of the current term; if all parties agree to renew, the landlord must provide the statement no later than 14 days after the agreement to renew. Failure to meet these timings can affect the availability of remedies. Advisers must map the fact pattern (option exercised vs mutual agreement) to the correct timing requirement.
Marketing fund contributions are prescribed as an “other cost of a prescribed kind.” Reg 6(2) explicitly includes advertising and promotional services, including marketing fund contributions. That means landlords can treat marketing fund levies as costs that feed into disclosure and potentially into outgoings claims under the Act. Tenants must watch for obligations to contribute to centre marketing funds disclosed under Schedule 2, item 15, including whether the contribution is a fixed dollar amount, a percentage of rent or otherwise.
“Other outgoings” specifically include fire services property levy and owners corporation fees for statement purposes. Reg 11(2) prescribes these items for the purposes of s 47(6)(a)(v). Parties must ensure these items are included in statements of outgoings where relevant; omission may be material.
The prescribed percentage of 10 per cent. Reg 11(1) sets a 10 per cent figure for the purposes of s 47(5)(b)(i). Practitioners must identify how s 47(5)(b)(i) operates in their particular case and apply the 10 per cent as the statutory figure. Failure to apply this percentage correctly could affect obligations to give a statement of outgoings or related disclosure duties.
The Schedules include numerous prompts that may generate documentary burdens. Schedule 2 in particular asks for centre‑level data such as anchor tenant listings, floor plans showing tenancy mix, customer traffic flow statistics and annual turnover where collected. Landlords may not routinely have these materials collated in a form that neatly fits the Schedule; producing them on short notice is an operational burden.
Attachment and signature formalities matter. The Schedules require signatures and explicitly warn landlords about remedies for false or incomplete information. A missing signature or omitted attachment may be treated as an incomplete disclosure. Parties should use checklists to ensure Schedules are fully completed and signed.
Schedules are part of the Regulation. The endnotes’ reference to the Interpretation of Legislation Act 1984 means examples, notes and headings form part of the statutory enactment. Parties cannot treat the Schedules’ notes and examples as mere guidance; they carry interpretive weight and may be used in enforcement.
No express penalties in the Regulations. Because the Regulations do not create standalone monetary penalties, parties may mistakenly believe the Regulations are unenforceable; they are enforceable through the parent Act’s remedies (Schedules 1-3 warnings). Advisers should not assume the absence of fines means the rules are non‑binding.
Potential mismatch between prescribed forms and commercial lease drafting. The Schedules are standardised templates. Commercial leases often contain bespoke clauses. A landlord providing the prescribed form must ensure that any bespoke lease terms are accurately reflected in the proposed lease copy provided with the disclosure statement; discrepancies can give rise to remedial claims under the Act.

These “gotchas” are concrete compliance and risk facets that arise directly from the text of the Regulations and the Schedules. Parties should use the Schedules as a compliance checklist, verify area measurements, plan for the timing windows and consider obtaining professional advice where the prescribed items (marketing contributions, head lease interactions, owners corporation fees) are present.

This section sets out a practical, step‑by‑step compliance checklist derived from the Regulations’ mandatory prescriptions and Schedules. The steps are operational rather than advisory; they are grounded in the text of the Regulations and the Schedules.

Determine which Schedule applies. Under reg 7 and reg 12(1) use Schedule 1 for retail premises not located in retail shopping centres and Schedule 2 for those located in retail shopping centres. For lease renewals use Schedule 3 per reg 8. For tenant disclosure on assignment where the business is ongoing use Schedule 4 per reg 12(2).
Prepare the landlord’s disclosure statement in the prescribed form fields. Complete all items in the relevant Schedule: premises details, plan, lettable area (item 1.3), existing fixtures and fit out, permitted use (item 2.1), parking, head lease details (item 4), lease term (Part 2), options to renew (Part 2), landlord’s works and tenant’s fit out (Parts 3, 7), rent and rent review details (Part 4), and a detailed statement of outgoings and outgoings estimates (Part 5). Schedule 2 requires additional centre‑level information such as turnover, tenant mix and customer traffic flow (Schedule 2 Parts 9 and 11-25).
Measure lettable areas accurately. The relevant fraction (reg 5) requires precise lettable area figures for both A (the premises) and B (the total lettable area of premises receiving the benefit of the outgoings). Decide whether to commission a survey. Schedules 1 and 2 specifically ask whether a survey will be conducted (item 1.3). If in any doubt, obtain a professional survey to avoid measurement disputes that will directly affect apportionment and liability caps per regs 9 and 10.
Calculate apportionments using the relevant fraction. For any non‑specific outgoing, determine the total outgoing and multiply by the relevant fraction (reg 9). Use the same calculation to check the maximum tenant liability under reg 10. Document the calculation method and retain supporting invoices and budgets.
Include marketing and promotional costs where applicable. Treat advertising and promotional services, including marketing fund contributions, as an “other cost of a prescribed kind” as required by reg 6(2). In Schedule 2 (item 15) complete whether the tenant must contribute, the amount or method (fixed dollars or percentage of rent), and whether the landlord requires turnover disclosure in relation to turnover‑based rent (Schedule 2, Part 3 and item 12).
Include prescribed outgoings and the prescribed percentage where s 47 is engaged. For statement of outgoings purposes, include the fire services property levy and owners corporation fees as “other outgoings” per reg 11(2). Apply the prescribed percentage of 10 per cent where reg 11(1) tells you it is relevant to s 47(5)(b)(i). Map these regulatory prescriptions to the parent Act clauses to determine when providing a statement is required.
Observe timing requirements. Provide the disclosure statement and the proposed lease at least 14 days before signing a new lease (Schedules 1 and 2). For renewals, provide Schedule 3 at least 21 days before the end of the current term where an option has been exercised; if all parties enter into an agreement to renew, provide Schedule 3 no later than 14 days after the agreement (Schedule 3 notes). Late disclosure has statutory consequences, including adjusted commencement dates; record delivery dates and methods to evidence compliance.
Attach required documents. The Schedules require attachments such as plans of the premises, head lease or Crown lease copies, floor plans showing tenancy mix, customer traffic flow statistics, casual mall licensing policy, and other attachments as listed (Schedules 1-3, parts 10, 23 and 33). Ensure attachments are current and signed where necessary.
Provide tenant and assignee disclosures as required. For assignment of an ongoing business, the tenant must give the proposed assignee a copy of the landlord’s disclosure and details of any changes since the tenant received it (Schedule 4 note referencing s 61(3) of the Act). The tenant must complete Schedule 4 and supply business records for the preceding three years where available (Schedule 4, Part 1). The proposed assignee must sign the acknowledgment in Schedule 4.
Signatures, acknowledgements and warnings. Ensure the landlord, tenant and proposed assignee sign the relevant acknowledgement and signature blocks (Schedules 1-4). The Schedules include explicit landlord and tenant acknowledgements warning about remedies for misleading or incomplete disclosure. Signatures constitute statutory confirmation; document who signed and their authority.
Record GST treatment. Where monetary figures are provided, indicate whether amounts are including or excluding GST as prompted in the Schedules. Reg 6(1)’s occupancy threshold is exclusive of GST; be consistent across the disclosure.
Keep contemporaneous records. Retain copies of disclosures, attachments, delivery receipts and correspondence. Given the Regulations’ reliance on documentary forms and the Schedules’ role as primary evidence, maintain a clear audit trail.
Seek and recommend independent advice. The Schedules recommend that tenants and proposed assignees obtain independent legal and financial advice. Where disputes are likely or where the figures are material to business viability (for example, marketing fund contributions, turnover rent, or major outgoings), advise clients to obtain specialist advice and to document that advice was sought.
Reconcile lease drafting with disclosure. Confirm that the proposed lease provided with the disclosure matches the factual content of the disclosure statement. Any discrepancies between the lease and disclosure can be grounds for remedy under the Act if the disclosure is misleading or materially incomplete.
Plan for ongoing disclosure updates. The Schedules acknowledge that information may change during the lease term. Maintain a process for notifying tenants and proposed assignees of material changes, and for documenting the dates of any updated disclosures, especially where assignment or renewal is contemplated.

By following these steps the parties convert the Regulations’ prescriptive fields into an operational compliance routine: measure areas accurately, compute apportionments by the relevant fraction, assemble all required attachments, respect timing windows and maintain documented evidence of delivery and signatures. The Regulations make much of compliance documentary; compliance therefore is primarily an administrative and evidentiary exercise.

Retail Leases Regulations 2023

Plain English Summary

Deep Dive

What it does

Current sections

Retail Leases Regulations 2023

Source text: opening excerpt

1 Retail Leases Regulations 2023

Main concepts

Who it affects

Key duties and rights

Penalties and enforcement

How it interacts with other laws

Amendment history

Litigation history

Gotchas

How to comply