South Australian Numbered Acts

RETAIL AND COMMERCIAL LEASES (MISCELLANEOUS) AMENDMENT ACT 2019 (NO 47 OF 2019) - SECT 6

6—Insertion of section 6A

After section 6—insert:

6A—Valuer-General to review prescribed threshold

        (1)         The Valuer-General must, within the last year of each prescribed period and in accordance with the regulations, conduct a review of the prescribed threshold for the purposes of this Act.

        (2)         On completing a review, the Valuer-General must forward to the Minister a report on the review and the conclusions reached by the Valuer-General as to whether or not, as a result of the review, the Valuer-General recommends that for the purposes of this Act the prescribed threshold in relation to rent payable under a retail shop lease should be increased.

        (3)         The regulations may make provision with respect to the conduct of a review by the Valuer-General including (without limitation), by specifying requirements (if any) in relation to—

            (a)         matters to be taken into account by the Valuer-General; and

            (b)         consultation to be undertaken by the Valuer-General.

        (4)         In this section—

"prescribed period" means—

            (a)         the period ending on 30 October next following the second anniversary of the commencement of this section; and

            (b)         each successive period of 5 years thereafter.