Residential Tenancies (Amendment) Act 2015

Amendment of section 151 of Principal Act

65. Section 151 of the Principal Act is amended, in subsection (1), by inserting the following paragraphs after paragraph (b):

“(ba) to retain deposits transmitted to it in accordance with this Act in one or more designated tenancy deposit accounts and to return the deposits to the parties concerned in accordance with this Act,

(bb) to retain the interest that accrues on a designated tenancy deposit account and use it to meet the costs of the performance by it of its functions under this Act,”.