Queensland Consolidated Acts Queensland Consolidated Acts(1) At least 7 days before a prospective lessee of a retail shop enters into a retail shop lease (the disclosure period), the lessor must give to the person a draft of the lease and a disclosure statement.
(2) Subsections (3) and (4) apply if—
(a) the lessor does not comply with subsection (1); or
(b) the disclosure statement when given to the prospective lessee under subsection (1) is a defective statement.
(3) The lessee may terminate the lease by giving written notice to the lessor within 6 months after the lessee enters into the lease.
(4) The lessor is liable to pay to the lessee the reasonable compensation decided by way of the dispute resolution process for loss or damage suffered by the lessee because of the noncompliance or defective statement.
(5) The lessee can not terminate the lease under subsection (3) on the ground that the disclosure statement is a defective statement if—
(a) the lessor acted honestly and reasonably and ought reasonably to be excused for giving the defective statement; and
(b) the lessee is in substantially as good a position as the lessee would have been if the disclosure statement were not a defective statement.
(6) For subsection (2), the lessor is taken to have given the disclosure statement to the prospective lessee within the disclosure period if—
(a) the prospective lessee—
(i) is a major lessee; and
(ii) gives the lessor written notice stating that the prospective lessee—
(A) has received appropriate financial and legal advice about the lease; and
(B) waives the entitlement, under subsection (1), to receive the disclosure statement within the disclosure period; and
(b) the lessor gives the disclosure statement to the prospective lessee before the prospective lessee enters into the lease.
(7) Termination of the lease under subsection (3) does not affect any right, privilege or liability acquired, accrued or incurred under the lease for any period before the termination.
(8) In this section—
defective statement, for a disclosure statement, means a statement that is incomplete or contains information that is false or misleading in a material particular.