Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulationsinsert
1A Prescribed agreement not residential tenancy agreement—Act, s 6D (1) (d)
(1) An agreement relating to the occupation of premises is a prescribed agreement if—
(a) the agreement is between the Territory (the lessor ) and a person (the "lessee"); and
(b) the agreement includes a term that makes the lessor liable to pay the lessee, on the date of effect, an exit payment calculated in accordance with the following formula:
(2) In this section:
"date of effect" means the date of effect stated in the agreement.
"market value", of premises, means a valuation of the premises as if—
(a) the land relating to the premises were subject to a units plan under the Unit Titles Act 2001 ; and
(b) the rights and obligations mentioned in the agreement were rights and obligations in relation to a unit within a units plan under the Unit Titles Act 2001 .
"market value at entry "means the market value of the premises to which the agreement relates on the day the lessee pays the sublease consideration.
"market value at exit" means the market value of the premises to which the agreement relates on the date of effect.
"sublease consideration" means the sublease consideration stated in the agreement.