Lease Agreements for Retail Premises Bill

The Lease Agreements for Retail Premises Bill aims to establish fair practices in leasing retail spaces by creating the Fair Tenancy Industry Committee and outlining leasing principles. It mandates compliance from both landlords and tenants regarding these principles, promoting equitable negotiations. The Bill sets up a structured dispute resolution process for complaints of non-compliance, facilitating mediation and adjudication between parties. Additionally, it outlines confidentiality provisions and the enforcement mechanisms for settlement agreements and adjudicator decisions. The Act will bind the Government but includes provisions for exemptions and regulations.