The National Cabinet agreed to implement a mandatory Code of
Conduct on commercial leasing (Code), details of
which were revealed on 7 April 2020. The Code imposes a list of
good faith leasing principles to existing leasing arrangements
across Australia, in response to the economic impacts caused by the
COVID-19 pandemic. The Code will be given effect through relevant
State and Territory legislation or regulations (as appropriate) and
will apply to retail, office and industrial leases.
Who does the Code apply to?
The Code applies to all tenancies that are suffering financial
distress or hardship, as defined by their eligibility for the
Commonwealth JobKeeper payments and with an annual turnover of up
to $50 million.
