Residential Tenancies Amendment Regulation 2012 (No 1) (ACT)

Residential Tenancies Amendment Regulation 2012 (No 1)

Subordinate Law SL2012-11

The Australian Capital Territory Executive makes the following regulation under the Residential Tenancies Act 1997.

Dated 21 March  2012.

Simon Corbell

Minister

Andrew Barr

Minister

Residential Tenancies Amendment Regulation 2012 (No 1)

Subordinate Law SL2012-11

made under the

Residential Tenancies Act 1997

1. Name of regulation

   This regulation is the Residential Tenancies Amendment Regulation 2012 (No 1).

2. Commencement

   This regulation commences on the day after its notification day.

   NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

3. Legislation amended

   This regulation amends the Residential Tenancies Regulation 1998.

4. New section 1A

   insert

1APrescribed agreement not residential tenancy agreement—Act, s 6D (1) (d)

(1)An agreement relating to the occupation of premises is a prescribed agreement if—

(a)the agreement is between the Territory (the lessor) and a person (the lessee); and

(b)the agreement includes a term that makes the lessor liable to pay the lessee, on the date of effect, an exit payment calculated in accordance with the following formula:

(2)In this section:

date of effect means the date of effect stated in the agreement.

market value, of premises, means a valuation of the premises as if—

(a)the land relating to the premises were subject to a units plan under the Unit Titles Act 2001; and

(b)the rights and obligations mentioned in the agreement were rights and obligations in relation to a unit within a units plan under the Unit Titles Act 2001.

market value at entry means the market value of the premises to which the agreement relates on the day the lessee pays the sublease consideration.

market value at exit means the market value of the premises to which the agreement relates on the date of effect.

sublease consideration means the sublease consideration stated in the agreement.

Endnotes

1. Notification

   Notified under the Legislation Act on 26 March 2012.

2. Republications of amended laws

   For the latest republication of amended laws, see align="center">© Australian Capital Territory 2012