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Taxation (International and Other Provisions) Act 2010

Section 681BJ: Lease varied to provide for increased rent

1019.This section deals with a case in which a lease is varied to provide for increased rent. It is based on section 780(6) of ICTA.

1020.Subsection (1) provides that four conditions must all be met if this section is to apply.

1021.Subsection (2) specifies condition A, concerning the original lease.

1022.Subsection (3) specifies condition B, concerning the variation of the lease.

1023.Subsection (4) specifies condition C, concerning the increase in the rent.

1024.Subsection (5) specifies condition D, concerning the period within which the increased rent is to be paid.

1025.Subsection (6) is the main operative provision. Condition A in subsection (2) is the same as condition A in section 681BA. In consequence of subsection (6)(a), condition B in that section is met. In consequence of subsection (6)(b), conditions C and D in that section are met. Accordingly, if conditions A to D in this section are met, conditions A to D in that section are met and this Chapter therefore has effect.

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