There is no phase-in for individual lessees because the approach taken is to have the changes take effect during rent review or lease renewal processes. Because the changes to lease fees do not take effect until an individual lease is renewed or at the next rent review date, as stipulated, some leaseholders may not see changes for their lease fees for up to five years. This means that some leaseholders will have received, in essence, a five-year advance notification of the fee change.

As I mentioned yesterday, although it seems, when I was looking at Hansard, I may have used the wrong dates, if a lease was renewed last year for a period of five years at the old rate, if I can put it that way, then that rate would still be in effect for the term of the lease.