11 May 2020
In April 2020 the Commonwealth Government introduced a new Code of Conduct for commercial tenancies (Code) intended to aid the management of cash flow for SME tenants and landlords that are suffering financial stress or hardship as a result of the COVID-19 pandemic. The Code includes a set of good faith leasing principles for application to commercial tenancies where the tenant is an eligible business for the purpose of the Commonwealth Government’s JobKeeper program. You can find our full analysis of the key changes the Code introduced here.
In response, Victoria enacted the COVID-19 Omnibus (Emergency Measures) Act 2020 (Vic Act) on 24 April 2020 and the COVID-19 Omnibus (Emergency Measures) (Commercial Leases and Licences) Regulations 2020 (Vic Regulations) on 1 May 2020.
In this special alert, we provide our analysis of the Vic Act and Vic Regulations and outline a number of important differences that distinguish Victoria’s approach with that of the Commonwealth.
Access a copy of COVID-19: Victoria releases new regulations for commercial tenancies, or click the ‘DOWNLOAD PDF’ button.
This publication is part of our insight series COVID-19: Navigating the implications for business in Australia and beyond. To get notified by email when new COVID-19 insights are released, please subscribe for updates here.
This publication is introductory in nature. Its content is current at the date of publication. It does not constitute legal advice and should not be relied upon as such. You should always obtain legal advice based on your specific circumstances before taking any action relating to matters covered by this publication. Some information may have been obtained from external sources, and we cannot guarantee the accuracy or currency of any such information.