(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.
Commencement Information
I1S. 120 in force at 21.12.2010 by S.S.I. 2010/436, art. 2