The Tasmanian Government has circulated a new draft Retail Leases Bill 2022 intended to replace the existing retail leasing regime in Tasmania under the Code of Practice for Retail Tenancies.
The Bill is currently receiving comments from the property industry before introduction to Parliament.
The currently drafted Bill significantly changes the retail leasing regime in Tasmania and it is expected that many changes to its drafting will be needed before it is in final form – for example, as currently drafted, almost every commercial lease in Tasmania would be categorised as retail and caught by the restrictions of this legislation.
We will provide a further update once the Retail Leases Bill 2022 progresses to its final proposed format.
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Published: 18 May 2022