Introduction
Just before the Easter Break on 7 April 2020, the National
Cabinet agreed for the mandatory commercial tenancy code (the Code)
to be legislated in each state and territory jurisdiction. While no
state or territory has specifically enacted all of the provisions
of the Code, the Victorian Government has today announced that
urgent legislation will be introduced into Parliament on Thursday
23 April 2020 to implement the Code. We are expecting that the
principles in the Code will have legal effect shortly
afterwards.
The Victorian Government has also announced a range of measures
which expand on the principles in the Code, including that:
- Commercial tenants and landlords who struggle to strike a deal
over rent reductions will be given access to a fast-tracked dispute
resolution service, with the Victorian Small Business Commission
mediating to ensure fair agreements are reached.
