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Update: Victorian leasing amendments now in force

23 September 2020

#Property & Real Estate, #COVID-19

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Update: Victorian leasing amendments now in force

Last week we published an article here which set out the key amendments made to the Retail Leases Act 2003 and the Building Act 1993 by the Retail Leases Amendment Bill 2020 (Bill).

The Bill received Royal Assent on 22 September 2020 and is in operation as of today, 23 September 2020, except for Division 2 of Part 3, which will come into operation on 1 October 2020. 

This means that all of the amendments referred to in our previous article will be in force on and from 1 October 2020, except for those regarding essential safety measures which operate from today.

The COVID-19 Commercial and Residential Tenancies Legislation Amendment (Extension) Act 2020 also received Royal Assent on 22 September 2020. However, that part of the Act which amends the definition of ‘eligible lease’ and extends the operation of the Omnibus Act will not come into operation until a day to be proclaimed, which has yet to occur.

Given the ‘relevant period’ referred to in the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 will end next week, we expect that the Victorian Government will shortly publish new regulations. We will provide a further update when that occurs.

Authors: Chris Brodrick & Alana Giles

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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