43Statement of security deposit details to be given to resident

43 Statement of security deposit details to be given to resident (1) This section applies if a resident has paid a security deposit to the operator and subsequently asks the operator to provide details about whether: (a) the amount has been paid into an account of the type mentioned in section 40(4): or (b) the operator operates a trust account of the type mentioned in section 40(6). (2) If the amount has been paid into an account of the type mentioned in section 40(4), the operator must give the resident a written statement of the following details about the account: (a) the name of the account; (b) whether or not the account is an account established under section 50 of the Agents Licensing Act 1979; (c) if the account is not an account established under section 50 of the Agents Licensing Act 1979 – the name of the financial institution where the account is held and the rate of interest; (d) the amount of the security deposit in relation to the resident that was paid into the account; (e) the day on which the security deposit was paid into the account. (3) If operator operates a trust account of the type mentioned in section 40(6), the operator must give to the resident a written statement of the following details about the account: (a) the name of the account; (b) the name of the financial institution where the account is held and the rate of interest; (c) the total of the funds held in the account. (4) An offence against subsection (2) or (3) is an offence of strict

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