120Tenancy deposits: preliminary
This section has no associated Explanatory Notes
(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.