872. Requirements relating to tenancy deposits.

The following provisions apply despite any agreement to the contrary1.

Any tenancy deposit2 paid to a person in connection with a shorthold tenancy3 must, as from the time when it is received4, be dealt with in accordance with an authorised5 scheme6; and no person may require the payment of a tenancy deposit in connection with a shorthold tenancy which is not to be subject to that requirement7.

Where a landlord8 receives a tenancy deposit in connection with a shorthold tenancy, the initial requirements of an authorised scheme9 must be complied with by the landlord in relation to the deposit within a