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SCHEDULES

SCHEDULE 2Treatment of holding deposit

Exceptions

12Subject to paragraph 13, paragraph 3(c) does not apply where the deposit is paid to the letting agent if—

(a)the agent takes all reasonable steps to assist the landlord to enter into a tenancy agreement before the deadline for agreement, and

(b)the landlord takes all reasonable steps to enter into a tenancy agreement before that date, but

(c)the tenant fails to take all reasonable steps to enter into a tenancy agreement before that date.