OpenLegislation

Regulation 19 Designated accounts

Original text. Later amendments are not shown.

The conditions for withdrawal of sums under regulation 18(d) are—

(a)

the income derived from interest accrued exceeds that required for the purposes set out in regulation 18(a), (b) and (c);

(b)

the distribution, application or investment of that income will not adversely affect the sustainability of the tenancy deposit scheme or its ability to be self-financing within the meaning of regulation 14; and

(c)

where the income is to be invested, the proposed investment is in accordance with the strategies referred to in regulation 14(3).