114Interest on security deposit

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