# The Tenancy Deposit Schemes Regulations (Northern Ireland) 2012, Regulation 7: Custodial scheme


A custodial scheme is a scheme under which:—
(a) no fee is payable by the landlord to the scheme administrator in respect of participation in, or otherwise in connection with, the scheme;
(b) the tenancy deposit is paid by the landlord to the scheme administrator;
(c) the scheme administrator pays the tenancy deposit into an account, known as a designated account, which is maintained for the purpose of holding accounts; and
(d) the tenancy deposit is held in a designated account until it falls to be repaid in accordance with these Regulations.

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Source: https://www.legislation.gov.uk/nidsr/2012/9780337988752/regulation/7 (the official version)
Page: https://openlegislation.uk/draft-tenancy-deposit-schemes-regulations-northern-ireland-2012/regulation-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.