30AUnclaimed security deposit forfeited

30A Unclaimed security deposit forfeited

[Section 30A Inserted by No. 59 of 2005, s. 9, Applied:01 Jul 2009]

(1)  In this section –

expired period determination means a determination made under subsection (2) ;

forfeit determination means a determination made under subsection (3) .

(2)  The Authority may determine in relation to a security deposit or part of a security deposit held by it that at least 6 years have elapsed since the end of the residential tenancy agreement.

(3)  In accordance with this section and after making an expired period determination, the Authority may further determine that the security deposit or the part of a security deposit held by it is forfeited to the Authority.

(4)  If no claim form has been lodged with the Authority, it may make a forfeit determination in respect of a security deposit held by it any time after the expired period determination is made.

(5)  If a claim form has been lodged with the Authority –

(a) in a case where a disbursement has been made from the security deposit before the expired period determination is made, the Authority may make a forfeit determination in respect of that part of the security deposit held by it any time after the expired period determination is made; or

(b) in any other case, the Authority may make a forfeit determination in respect of that part of the security deposit held by it after all disbursements resulting from that claim are made in accordance with this Act.

(6)  On the making of a forfeit determination, the security deposit, or that part of a security deposit, in respect of which that determination is made is forfeited to and becomes the property of the Authority.