29EDisbursements of security deposits

29E Disbursements of security deposits

[Section 29E Inserted by No. 59 of 2005, s. 7, Applied:01 Jul 2009]

(1)  In this section –

deposit contributor's portion means the amount that would be paid to a deposit contributor under subsection (2)(b) if no disbursement were to be made to the owner;

tenant's portion means the amount that would be paid to a tenant under subsection (2)(a) if no disbursement were to be made to the owner.

(2)  If no part of a security deposit is to be disbursed to the owner –

(a) that part of the security deposit paid to the Authority by the tenant is to be disbursed to the tenant; and

(b) that part of the security deposit paid to the Authority by a deposit contributor is to be disbursed to the deposit contributor.

(3)  In a case where any part of the security deposit is to be disbursed to the owner –

(a) the Authority –

(i) is to subtract the amount to be disbursed to the owner firstly from the tenant's portion; and

(ii) if there is insufficient money in the tenant's portion to fully meet that disbursement, is to then subtract from the deposit contributor's portion any part of that disbursement that has not been met from the tenant's portion; and

(b) if there is money remaining in either the tenant's portion or deposit contributor's portion after meeting the disbursement to the owner as specified in paragraph (a) , the Authority is to pay that remainder to the tenant or contributor, as appropriate.

(4)  The Authority must not disburse the security deposit after a dispute is lodged under section 29F until –

(a) if an appeal is instituted under section 30 , that appeal is decided; or