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RETAIL SHOP LEASES ACT 1994 - SECT 36A
Ratchet rent provision void
(1) Subsection (2) applies if a retail shop lease provides a basis for rent
review under which the rent may be varied, including by a decrease, but the
lease includes a ratchet rent provision.
(2) The ratchet rent provision is
void.
(3) However, if, under a retail shop lease, a major lessee gives a
notice under section 27 (8) , a ratchet rent provision that would otherwise be
void is not void.
(4) In this section—
"ratchet rent provision" means any provision of a retail shop lease to the
extent that it— (a) prevents, or enables the lessor or another person to
prevent, the rent decreasing under a rent review; or
(b) limits or specifies,
or allows the limitation or specification of, the amount by which the rent may
decrease under a rent review; or
(c) prevents, or allows the avoidance of,
the rent review by the lessor or another person for a purpose mentioned in
paragraph (a) or (b) .
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