SCHEDULE 2 Treatment of Holding Deposit
Renting Homes (Fees etc) (Wales) Act 2019 (2019 anaw 2) | Legislation

SCHEDULE 2 Treatment of Holding Deposit

(as introduced by section 9)

Application

1

(1)     This Schedule applies where a holding deposit is paid in respect of a standard occupation contract.

(2)     References in this Schedule to a contract-holder, in relation to a holding deposit, are to the person whose right of first refusal has been reserved by the holding deposit.

Meaning of “deadline for agreement”

2

(1)     In this Schedule, the “deadline for agreement” means the fifteenth day of the period beginning with the day on which the holding deposit is paid.

(2)     But the parties may agree in writing that a different day is to be the deadline for agreement.

(3)     Regulations may amend sub-paragraph (1) to change the deadline for agreement.

Requirement to repay holding deposit

3

Subject as follows, the person who received the holding deposit must repay it if—

(a)     the parties enter into the contract before the deadline for agreement,

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