129Interest on security deposit

129 Interest on security deposit If interest accrues in relation to the security deposit held in an interest-bearing trust account, other than an account established under section 50 of the Agents Licensing Act 1979, the operator must ensure that the interest is paid: (a) to the person specified in the caravan park agreement as the person to whom the interest must be paid; or (b) if a caravan park agreement does not specify to whom the interest must be paid – to the parties to the caravan park agreement who, at the end of the occupancy, are entitled under this Act to receive the greater part of the amount paid as the security deposit.