Queensland Consolidated Regulations

RETAIL SHOP LEASES REGULATION 2016 - REG 7

7 Prescribed particulars for legal advice report

The prescribed particulars for a legal advice report given by a prospective lessee or prospective assignee under section 22D of the Act are the following—

(a) the name of the lawyer signing the report;

(b) the name of the prospective lessee or prospective assignee;

(c) the name of the lessor;

(d) the address of the retail shop;

(e) if the prospective lessee or prospective assignee has given, or intends to give, a waiver notice under section 21B or 22C of the Act , a statement about whether the lawyer has given advice about the waiver;

(f) a statement that the lawyer has given advice about the following matters in relation to the lease—

(i) the rent, outgoings and other payments and how they are calculated;

(ii) the rent review;

(iii) the liability to contribute to outgoings;

(iv) the term of the lease;

(v) any special or unusual terms or conditions of the lease;

(vi) whether a repayable bond or guarantee is required under the lease;

(vii) whether the lease contains an option to renew;

(viii) if the lease does not contain an option to renew—any rights the lessee or assignee may have to extend the lease;

(ix) the obligations on all parties at the end of the lease;

(x) any provision in the lease that allows the business of the prospective lessee or prospective assignee to be relocated to other premises and how sections 46C to 46G of the Act may apply;

(xi) any provision in the lease that allows the lessor to terminate the lease if the building in which the retail shop is located is to be demolished and how sections 46H to 46K of the Act may apply;

(xii) the uses permitted for the retail shop premises under the lease;

(xiii) the lessee’s right, under section 45 of the Act or the lease, to deal with the lease and assets of the business intended to be carried on in, or from, the retail shop;

(xiv) the consequences of a breach of a term or condition of the lease;

(g) any insurance or indemnity provisions in the lease and the liability or obligations of the prospective lessee or prospective assignee under those provisions;

(h) whether the premises are a lot within a community titles scheme under the Body Corporate and Community Management Act 1997 ;

(i) a statement that the lawyer has advised the prospective lessee or prospective assignee to obtain further professional advice including advice about the following—

(i) town planning matters, including the licences or permits required to carry on the business intended in the retail shop;

(ii) building laws, including the appropriate classification under the Building Act 1975 to carry on the business intended in the retail shop;

(iii) the statutory approvals required to carry on a retail business of the type intended;

(iv) financial advice about the operation of the retail business intended to be carried on;

(v) the insurance required to meet the obligations of the prospective lessee or prospective assignee under the lease;

(j) a statement that the lawyer is not providing advice about, or making comment on, the following—

(i) the financial viability of the business intended to be carried on;

(ii) the ability of the prospective lessee or prospective assignee to meet the financial commitments under the lease;

(iii) accounting requirements or taxation implications of entering into the lease;

(k) a declaration by the lawyer about any relationship, whether professional or personal, that the lawyer has with the lessor;

(l) a statement by the prospective lessee or prospective assignee about receiving and understanding the advice mentioned in the report.