Deposits accepted in the course of estate agency work
9.—(1) The acceptance in the course of estate agency work of a deposit which is a pre-contract deposit is an exempt transaction.
(2) In this regulation “estate agency work” has the meaning assigned to it by section 1(1) of the Estate Agents Act 1979(1), and “pre-contract deposit” has the meaning assigned to it by section 12(3) of that Act.
(1)