Part 4Tenancy deposits

I1121Tenancy deposit schemes: regulatory framework

1

The Scottish Ministers may by regulations (“tenancy deposit regulations”)—

a

set out conditions which a tenancy deposit scheme must meet before they can approve it under section 122,

b

make such further provision about tenancy deposit schemes as they think fit.

2

Tenancy deposit regulations may, in particular—

a

make provision about the manner and circumstances in which tenancy deposits must be paid, held and repaid under an approved scheme,

b

impose sanctions for failing to participate in, or to comply with, an approved scheme,

c

set out a mechanism for resolving disputes relating to an approved scheme,

d

prescribe the type of person who may administer an approved scheme,

e

authorise the Scottish Ministers to make payments, or to give guarantees or other assistance, in connection with—

i

the creation, administration or operation of an approved scheme,

ii

the resolution of disputes relating to an approved scheme,

f

set the amount, or the maximum amount, of any fee which may be charged in connection with an approved scheme,

g

prescribe arrangements for publicising approved schemes.

3

But tenancy deposit regulations may not—

a

prescribe circumstances in which tenancy deposits must be paid under a tenancy or an occupancy arrangement,

b

create offences.