s. 100 section 134(4)(a)(vi) and (vii) referred to a certified valuer appointed at the request of the lessor or lessee by the President of the Victorian Division of the Australian Institute of Valuers, instead of to the Minister. (4) The amount of re-appraised or reviewed rent must S. 100(4) amended by be determined having regard to the market rental No. 28/1993 value of the land subject to the lease, disregarding s. 6(2)(a). any improvements made by the lessee or during the term of the lease, and the amount of the re-appraised or reviewed rent is— (a) the amount agreed between the lessor and the lessee; or (b) if, at least one month before the date fixed S. 100(4)(b) amended by for re-appraisal or review of the rent in No. 28/1993 accordance with this Act or the lease, the s. 6(2)(b). lessor and lessee cannot agree as to the amount of the re-appraised or reviewed amount, such amount as is determined by a certified valuer appointed at the request of the lessor or lessee by the President of the Victorian Division of the Australian Institute of Valuers. (5) If improvements were made by a lessee under a S. 100(5) amended by previous lease and were not taken into account in No. 28/1993 the assessment of the rent under an existing lease s. 6(2)(a). of the land when the existing lease was entered into, those improvements must be disregarded in determining the amount of re-appraised or reviewed rent under the existing lease. (6) If a valuer is appointed in accordance with subsection (3) or (4) the parties to the lease are jointly and severally liable to pay the fee of the valuer.
section 134(4)(a)(vi) and (vii) referred to a certified valuer appointed at the request of the lessor or lessee by the President of the Victorian Division of the Australian Institute of Valuers, instead of to the Minister. S. 100(4) amended by No. 28/1993 s. 6(2)(a). (4) The amount of re-appraised or reviewed rent must be determined having regard to the market rental value of the land subject to the lease, disregarding any improvements made by the lessee or during the term of the lease, and the amount of the re-appraised or reviewed rent is— (a) the amount agreed between the lessor and the lessee; or S. 100(4)(b) amended by No. 28/1993 s. 6(2)(b). s. 100 (b) if, at least one month before the date fixed for re-appraisal or review of the rent in accordance with this Act or the lease, the lessor and lessee cannot agree as to the amount of the re-appraised or reviewed amount, such amount as is determined by a certified valuer appointed at the request of the lessor or lessee by the President of the Victorian Division of the Australian Institute of Valuers. S. 100(5) amended by No. 28/1993 s. 6(2)(a). (5) If improvements were made by a lessee under a previous lease and were not taken into account in the assessment of the rent under an existing lease of the land when the existing lease was entered into, those improvements must be disregarded in determining the amount of re-appraised or reviewed rent under the existing lease. (6) If a valuer is appointed in accordance with subsection (3) or (4) the parties to the lease are jointly and severally liable to pay the fee of the valuer.
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