Document ID: chunk:federal_register_of_legislation:F2016L00002:schedule:8:p6
Version: federal_register_of_legislation:F2016L00002
Segment Type: schedule
Provision Reference: sch 8 (pt 6/52)
Character Range: 550317–553003

the event of the parties failing to agree upon a formula provided for in sub-clause 8 (1) then the matter shall be referred for determination by the Australian Statistician to fix a formula for review of the review figures on the review date which will provide as nearly as practicable the same adjustments of their review figures as if the Consumer Price Index referred to in sub-clause 8 (1) had been continued without variation and the determination shall be final and binding upon the parties.

       (4) Each rent review shall be made within three (3) months prior to the review date.

       (5) The Lessor shall notify the Lessee in writing of its calculation of the increase in the review figures on the review date.

       (6) The review figures shall not be reduced in the event of a decrease in the index number since the previous review date.

       (7) If the Lessee fails or refuses to accept the Lessor's assessment of the review figures by notice in writing or the parties fail to agree upon the review figures at the review date within 30 days after service of notice thereof by the Lessor, the review figures shall be determined by reference to arbitration and thereupon the provision of paragraphs 16(2)(a) to (d) shall apply mutatis mutandis.

       (8) The Lessee shall in the interim pay the rent including an amount equal to not less than half of the increase in rent payable as calculated by the Lessor in the event that the parties are unable to resolve the difference in their calculations prior to the date for payment of the rent.

       (9) If the Lessee has paid rent in excess of the current amount due because of the Lessor's calculation the Lessor shall repay the excess together with interest thereon at a rate equal to the interest rate charged at the time of the interim payment by the Lessee's banker for amounts equal to the excess rent paid calculated at a daily rate.

PART III – COVENANTS AND CONDITIONS

    9                    The Lessee covenants –

          (a)      to take all practicable steps to ensure compliance by all persons with the Act, regulations under the Act, this Lease and the Plan of Management;

          (b)      not to transfer, assign, sublet or part with the possession of the Park or any part of the Park without the consent in writing of the Lessor;

          (c)       to pay the Land Council's and the Land Trust's reasonable costs of and incidental to the preparation, execution, registration and stamping of this Lease agreed and assessed at ten thousand dollars ($10,000) and in addition, to pay all registration fees and stamp duty payable in connection with this Lease;

          (d)      to pay all