# Tenant Fees Act 2019, Paragraph 5


(1) The person who received the holding deposit must repay it if—
(a) that person believes that any of paragraphs 8 to 12 applies in relation to the deposit, but
(b) that person does not give the person who paid the deposit a notice in writing within the relevant period explaining why the person who received it intends not to repay it.
(2) In sub-paragraph (1) “the relevant period” means—
(a) where the landlord decides not to enter into a tenancy agreement before the deadline for agreement, the period of 7 days beginning with the date on which the landlord decides not to do so;
(b) where the landlord and tenant fail to enter into a tenancy agreement before the deadline for agreement, the period of 7 days beginning with the deadline for agreement.

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Source: https://www.legislation.gov.uk/ukpga/2019/4/schedule/2/paragraph/5 (the official version)
Page: https://openlegislation.uk/tenant-fees-act-2019/schedule-2/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.