Ahern bans upwards-only rent reviews

Justice Minister Dermot Ahern has banned upwardly-only rent review clauses in business leases.

The Minister today signed a banning order on upwardly only rent review clauses under section 132 of the Land and Conveyancing Law Reform Act. The section will come into operation on 28 February 2010.

Minister Ahern said: "The practice of including upward only review clauses in business leases is a deeply entrenched one. The time has come to end this practice.

"I look forward to more equitable business arrangements being put in place in the future which take account of the reality facing many business owners and retailers."

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