CODE FOR LEASING BUSINESS PREMISES

That this House welcomes the new Code for Leasing Business Premises which has been produced by the Association of British Insurers, British Council for Offices, British Property Federation, British Retail Consortium, Confederation of British Industry, CoreNet Global, Forum on Private Business, Federation of Small Businesses, Investment Property Forum, The Law Society and The Royal Institution of Chartered Surveyors in a quest to promote efficiency and fairness in landlord and tenant relationships; congratulates the property industry for developing a Code which is clear, authoritative and concise; recognises that the success of the Code is dependent on dissemination to occupiers of all sizes and therefore urges property owners, occupiers and professional advisers to use the lease code as a checklist for negotiations before the grant of a lease and lease renewals; encourages trade and professional bodies, lenders and Government to ensure small businesses are made aware of the Code and the advisory pages which accompany it; urges the courts to consider the Code in deciding commercial property disputes; and recommends that mediators and arbitrators involved in dispute resolution endorse adherence to the Code.