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Written reply to PQ Application of Lease Agreements for Retail Premises Act to Legal, Accounting or Valuation Services Firms Located in Commercial Buildings

7 August 2024

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Question


Mr Lim Biow Chuan: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) whether the Lease Agreements for Retail Premises Act covers offices in commercial buildings which provide legal, accounting or valuation services; and (b) whether tenancy agreements for such offices are subject to the Code of Conduct for the Leasing of Retail Premises.


Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong


1. The Lease Agreements for Retail Premises Act does not cover leases for commercial office spaces, including those involving legal, accounting or valuation services. The Code of Conduct for Leasing of Retail Premises in Singapore was jointly developed by retail tenants and landlords to address long-running issues faced in retail lease negotiations. The Lease Agreements for Retail Premises Act was subsequently enacted to mandate compliance with the Code of Conduct, and the Fair Tenancy Industry Committee was appointed as custodian of the Code.

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