Further Update – New South Wales – COVID-19 – Retail and Other Commercial Lease Regulation
December 21, 2020
The Retail and Other Commercial Leases COVID-19 Regulation (No 3) 2020 (NSW) takes effect from 1 January 2021 and, in many ways, operates as an extension of the existing Covid-19 tenancy regulations but with some critical changes.
Importantly, the scope of the Regulations are now substantially narrowed and only apply to retail tenants who:
- are eligible for Jobkeeper based on the new eligibility criteria from 4 January 2021 (ie regardless of previous eligibility)
- had a turnover in the 2018-19 financial year of less than $5 million (previously the cap was $50 million)
Despite the title of the legislation suggesting otherwise, the new Regulations do not apply to commercial leases – however commercial tenants will still have certain rights preserved under the existing framework depending on the circumstances (eg the right to apply for mediation in the event of a dispute).
The new Regulations will expire on 28 March 2021 unless they are further extended or replaced.
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It is with great pleasure that we announce Joseph’s promotion to Special Counsel. Joseph is known and respected across the legal and property industries, particularly for his work in government and airport transactions, major developments and renewable energy projects.
Joseph is an exceptional leader and a skilled technical lawyer. We are proud to have him on our team.
Congratulations Joseph Consalvi, from all of us at Massons, on this significant career milestone.
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Australian Law Awards - Property Team of the Year 2025
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