Property Services (Regulation) Act 2011

87.

Database of commercial property leases.

87.— (1) The Authority shall, as soon as is practicable after the commencement of this section, establish and maintain for the purposes of this Act a database relating to commercial property leases, to be known as the Commercial Leases Database.

(2) The Commercial Leases Database shall be in such form as the Authority thinks fit and shall, in respect of each relevant commercial lease which is in force, contain—

( a) the address and description of the commercial property the subject of the lease,

( b) the date of the lease of the property,

( c) the term of years of the lease,

( d) the rent payable in respect of the property,

( e) the particulars provided to the Authority under section 88 in relation to the property, and

( f) such other particulars as may be prescribed by regulations made under section 95 for the purposes of this paragraph.

(3) Subject to subsection (4), the Commercial Leases Database may, at the Authority’s discretion, contain, in respect of a commercial property lease, the particulars provided for in paragraphs (a) to (d) of subsection (2) notwithstanding the fact that such a lease was entered into before the commencement of this section.

(4) Subsection (3) shall not apply to a commercial property lease entered into more than 5 years before the commencement of this section.

(5) The Authority shall make the Commercial Leases Database available for inspection by any person, on payment of the appropriate fee—

( a) at its principal office during normal working hours, and

( b) on its Internet website in such a manner that the section of that website which contains the Database is readily accessible by such person.