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National Cabinet Mandatory Code of Conduct - SME ...

National Cabinet Mandatory code OF Conduct SME COMMERCIAL LEASING PRINCIPLES DURING COVID-19 PURPOSE The purpose of this code of Conduct ( the code ) is to impose a set of good faith leasing principles for application to commercial tenancies (including retail, office and industrial) between owners/operators/other landlords and tenants, where the tenant is an eligible business for the purpose of the Commonwealth Government s JobKeeper programme. These principles will apply to negotiating amendments in good faith to existing leasing arrangements to aid the management of cashflow for SME tenants and landlords on a proportionate basis as a result of the impact and commercial disruption caused by the economic impacts of industry and government responses to the declared Coronavirus ( COVID-19 ) pandemic.

The Code has been developed to enable both a consistent national approach and timely, efficient application given the rapid and severe commercial impact ... an equivalent period of the rent waiver and/or deferral period outlined in item #2 above. This is intended to provide the tenant additional time to trade, on existing lease terms, during ...

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