61. The Principal Act is amended by inserting the following sections after section 135:

“135A. (1) For the purposes of section 12(1)(d), where a deposit referred to in that section is paid by a tenant to his or her landlord on entering into the agreement for the tenancy or lease, the landlord shall, subject to subsection (2), transmit that deposit to the Board with the application for registration under section 134.

(2) Where a tenant has not paid a deposit referred to in subsection (1) to his or her landlord on entering into the agreement for the tenancy or lease, the application for registration under section 134 shall be accompanied by a statement, in the prescribed form, stating that the tenant has not paid a deposit referred to in subsection (1) to the landlord and that a deposit is not available to provide for a default referred to in section 12(4).

(3) For the purposes of subsection (1), where the landlord transmits a sum of money to the Board that is equal in value to the sum of the deposit, the sum transmitted to the Board shall be treated as the deposit paid to the landlord by the tenant.

(4) The Minister may make regulations relating to the manner in which the deposit referred to in subsection (1) may be transmitted to the Board and may include provision for the electronic transfer of the deposit.

Enforcement of obligations under section 135A

135B. (1) Where a notice under section 135(4B) is sent to a landlord and he or she does not transmit the deposit concerned or furnish the statement concerned within the period specified in that notice, the Board shall serve a further notice on the landlord stating that he or she is required to transmit the deposit concerned or furnish the notice concerned to the Board within 14 days of receipt by him or her of the further notice under this section and that where he or she fails to do so within that period, he or she is guilty of an offence.

(2) A person who fails to comply with the further notice under subsection (1) is guilty of an offence.

(3) It shall be a defence for a person charged with an offence under subsection (2) for the person to show that he or she took all reasonable steps to comply with subsection (1).”.