Page 3255 - Week 11 - Wednesday, 21 September 1994
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Page 3, line 1, clause 3, definition of "key money", after paragraph (a), insert the following paragraph:
"(aa) a payment for the goodwill of a business sold or to be sold by the owner to a tenant;".
Page 3, line 2, clause 3, definition of "key money", paragraph (b), add "or security deposit, or a guarantee by way of security".
Page 3, lines 4 to 6, clause 3, definition of "key money", paragraph (d), omit the paragraph, substitute the following paragraph:
"(d) money payable to a person for attendances on a tenant in connection with the preparation of documents that are relevant to a lease;".
Page 3, line 7, clause 3, definition of "key money", paragraph (e), omit "a landlord", substitute "an owner".
Page 3, line 10, clause 3, definition of "key money", paragraph (f), omit the paragraph, substitute the following paragraph:
"(f) any money permitted to be paid under the Code;".
Page 3, lines 11 to 13, clause 3, definition of "landlord", omit the definition.
Page 3, line 15, clause 3, definition of "lease", after "premises", insert "exclusively or otherwise".
Page 3, line 17, clause 3, definition of "lease", paragraph (a), omit "a licence or other", substitute "an".
Page 3, line 25, clause 3, after the definition of "mediation report", insert the following definition:
"'multiple rent review clause' means a provision in a lease that -
(a) has the effect of reserving to a party a discretion as to which of 2 or more methods of calculating a change to rent is to apply; or
(b) provides for rent to change in accordance with whichever of 2 or more methods of calculating the change would result in the higher or highest rent;
whether generally or on a particular occasion;".
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