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Regulation 18 Designated accounts

Original text. Later amendments are not shown.

Sums may be withdrawn from a designated account only for the following purposes—

(a)

repayment of tenancy deposits in accordance with these Regulations;

(b)

meeting the costs of the scheme from interest accrued;

(c)

improving the quality of service provided by the scheme administrator from interest accrued, where the interest is surplus to that required to meet the costs of the scheme; and

(d)

distributing, applying or investing interest accrued, where the conditions in regulation 19 are met.