As of 28 February 2010, upward only rent reviews will be banned in business leases. The ban was introduced by the Minister for Justice, Equality and Law Reform and will amend clauses under section 132 of the Land and Conveyancing Law Reform Act.
The ban is being welcomed by lobby groups for retailers and commercial tenants who have long complained that the practice is damaging their businesses in the current economic climate. The ban cannot be applied retrospectively, according to advice from the Attorney General.