Security of Tenure for Commercial Tenants in Review
A consultation is currently being undertaken to review these provisions to ensure that the legal framework works within todays commercial property market.
As it currently stands many leases opt out of the provision of the Act.
The first consultant paper was published on the 19th November 2024 and ask key questions about the possible reforms to the Act. There is a consultant period which will remain open to the 19th February 2025 before a second consultation paper is issued. Responses to the consultation paper can be submitted on line via Business Tenancies Consultation Paper 1 – Ministry of Justice – Citizen Space
This consultation paper considers the pros and cons of the current contracting out scheme and offers three alternatives:
- Mandatory security of Tenure
- Abolition of Security of Tenure
- Contracting in
The consultation also looks at the types of tenancy that the Act applies to.
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