C111

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

F348[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the manner in which, and the times at which, interest that has accrued on a designated tenancy deposit account is to be withdrawn from that account and placed in a bank account referred to in subsection (2).

(2) The Board shall cause to be maintained one or more bank accounts for the purpose of holding interest that is withdrawn from a designated tenancy deposit account for the purpose of the performance by it of its functions under section 151(1)(bb).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