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Prospective

SCHEDULE 2E+WTreatment of Holding Deposit

ExceptionsE+W

9Paragraph 3(b) does not apply in relation to a holding deposit paid to a landlord if—

(a)the landlord takes all reasonable steps to enter into a contract before the deadline for agreement, but

(b)the contract-holder fails to take all reasonable steps to enter into a contract before that date.