Section 120 Tenancy deposits: preliminaryI1

(1)

A tenancy deposit is a sum of money held as security for—

(a)

the performance of any of the occupant's obligations arising under or in connection with a tenancy or an occupancy arrangement, or

(b)

the discharge of any of the occupant's liabilities which so arise.

(2)

A tenancy deposit scheme is a scheme for safeguarding tenancy deposits paid in connection with the occupation of any living accommodation.

Annotations