Victorian Numbered Regulations

COVID-19 OMNIBUS (EMERGENCY MEASURES) (COMMERCIAL LEASES AND LICENCES) REGULATIONS 2020 (SR NO 31 OF 2020) - REG 16

    (1)     An eligible lease is taken to provide as set out in this regulation.

    (2)     If any rent is deferred by variation to the eligible lease or an agreement as mentioned under regulation 10(6)—

        (a)     a landlord under the lease must not request payment of any part of the deferred rent until the earlier of—

              (i)     expiry of the relevant period; and

              (ii)     expiry of the term of the eligible lease (before any extension as provided under regulation 13 or otherwise); and

        (b)     a landlord and tenant must vary the eligible lease or otherwise agree so that tenant must pay the deferred rent to the landlord amortised over the greater of—

              (i)     the balance of the term of the eligible lease, including any extension to that term, as provided under regulation 13 or otherwise; and

              (ii)     a period of no less than 24 months.

    (3)     The method by which the deferred rent is amortised for the purposes of subregulation (2) is to be agreed to by the landlord and tenant.

    (4)     Subregulation (2) does not apply if a landlord and a tenant agree otherwise in writing.

Note

An eligible lease is taken to provide as set out in this regulation and, as such, it forms part of the eligible lease and a landlord and tenant under the eligible lease must observe it.