Commercial Property Guidance Update: Covid-19

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A decision made on 23 September 2020

MINISTERIAL DECISION REFERENCE: MD E-2020-0043
DECISION SUMMARY TITLE: COVID-19 Commercial Property guidance - update
DECISION SUMMARY AUTHOR:	Lead Policy Advisor, Financial Services	IS THE DECISION SUMMARY PUBLIC OR EXEMPT?		Public
REPORT TITLE: COVID-19 Commercial Property guidance - update
WRITTEN REPORT AUTHOR :	Lead Policy Adviser, Financial Services	IS THE REPORT PUBLIC OR EXEMPT		Public
DECISION AND REASON FOR THE DECISION: The Minister approved an update to the Guidance for Landlords and Tenants of Commercial Property during COVID-19, which was issued on 8 April 2020 and decided to publish the update. The Guidance was adopted by the Courts by way of a Practice Direction and in that manner made it binding on local landlords and tenants of commercial property. The update provides feedback on how the Guidance has been used by private landlords and tenants. It also reminds landlords and tenants of commercial property that the Guidance still applies where the parties are suffering financial hardship due to COVID-19. Th update provides some further practical guidance on how the Guidance should be used and encourages parties to make use of the full range of payment concessions available under its terms. The Update will enable local businesses to continue to benefit from the protection offered by the Courts and the Guidance, lessening the risk of insolvency or business closure during this continued period of economic hardship.
RESOURCE IMPLICATIONS: There are no resource implications for the States of Jersey as a result of this decision.
ACTION REQUIRED: The Lead Policy Adviser is to take steps to issue the Policy on the gov.je website and to initiate a communications strategy to publish the Update more widely.
SIGNATURE: SENATOR LYNDON FARNHAM			POSITION: MINISTER FOR ECONOMIC DEVELOPMENT, TOURISM, SPORT AND CULTURE
DATE SIGNED			EFFECTIVE DATE OF THE DECISION