263. Pre-contract deposits.

263.     Pre-contract deposits.

As from a day to be appointed1 no person may, in the course of estate agency work2, seek from any prospective purchaser3 a payment which, if made, would constitute a pre-contract deposit4 in excess of a prescribed limit5 and if in the course of such work any person receives from a prospective purchaser a pre-contract deposit which exceeds such a limit, so much of that deposit as exceeds the limit must forthwith be either repaid to the prospective purchaser or paid to such other person as the prospective purchaser may direct6. Failure to comply