Designated accounts
This section has no associated Executive Note
18. Sums may be withdrawn from a designated account only for the following purposes—
(a)repayment of tenancy deposits in accordance with these Regulations;
(b)meeting the costs of the scheme from interest accrued;
(c)improving the quality of service provided by the scheme administrator from interest accrued, where the interest is surplus to that required to meet the costs of the scheme; and
(d)distributing, applying or investing interest accrued, where the conditions in regulation 19 are met.