Regulation 3 Appointment of Scheme Administrator
(1)
The Department may appoint a person who has applied to the Department to establish and maintain a tenancy deposit scheme of a description prescribed in Part 3 where the Department has approved that application under the Regulations.
(2)
The Department must not approve an application where the applicant:—
(a)
has been convicted of any offence involving fraud or dishonesty;
(b)
is a bankrupt; or
(c)
is disqualified from being a director of a company.