1012.This section deals with the position where the rent is reduced. It is based on section 780(2) and (8) of ICTA.
1013.Subsection (1) uses the expressions “rent for a relevant period” and “following comparable period”. Subsection (2)(a), (b) and (c) define “relevant period”, “following comparable period” and “rent for a period” respectively.
1014.Subsection (2)(a) uses the expressions “rental period” and “fifteenth anniversary [of the new lease]”. These expressions are defined in subsection (2)(d) and (e) respectively.
1015.Subsection (3) supplements the definition of “rental period” in subsection (2)(d).
Section 681BF: Position where rent reduces