SCHEDULE 1Permitted Payments
2Security deposit
1
A payment of a security deposit is a permitted payment.
2
In this Act, “security deposit” means money paid as security for—
a
the performance of any obligations of a contract-holder, or
b
the discharge of any liability,
arising under or in connection with an occupation contract.
3
But if the amount of the security deposit exceeds the prescribed limit, the amount of the excess is a prohibited payment.
4
In sub-paragraph (3), the “prescribed limit” means a limit specified by, or determined in accordance with, regulations.