Queensland Consolidated Acts

RETAIL SHOP LEASES ACT 1994 - SECT 50A

50A Release of assignor and any guarantor from lease

(1) This section applies to the assignment of a retail shop lease if—

(a) the assignor of the lease has complied with section 22B or any order mentioned in section 22E (2) imposed on the assignor; and

(b) the disclosure statement given by the assignor under section 22B or an order is not a defective statement.

(2) When the assignment is entered into, the assignor and any guarantor of the assignor are released from any liability under the lease resulting from a default by the assignee.

(3) In this section—

"defective statement" , for a disclosure statement, means a statement that—

(a) is incomplete in a material particular; or

(b) contains information that is false or misleading in a material particular.