Residential Tenancies Act 2004

F292 [ Withdrawal by Board of interest from designated tenancy deposit account

177B

177B. ... ]

Annotations

Amendments:

F292

Inserted by Residential Tenancies (Amendment) Act 2015 (42/2015), s. 71, not commenced as of date of revision.

Modifications (not altering text):

C74

Prospective affecting provision: section inserted by Residential Tenancies (Amendment) Act 2015 (42/2015), s. 71, not commenced as of date of revision.

F292 [ 177B. (1) The Board shall, for the purposes of the withdrawal of moneys representing the interest which has accrued on a designated tenancy deposit account, direct the manner in which, and the times at which, interest that has accrued on a designated tenancy deposit account is to be withdrawn from that account and placed in a bank account referred to in subsection (2) .

(2) The Board shall cause to be maintained one or more bank accounts for the purpose of holding interest that is withdrawn from a designated tenancy deposit account for the purpose of the performance by it of its functions under section 151(1)(bb) .

(3) For the purposes of the performance of its functions under section 151(1)(bb) , the Board may, subject to section 177A(4) , withdraw the moneys, representing the interest which has accrued on a designated tenancy deposit account, from a designated tenancy deposit account. ]