24.—(1) An insurance scheme must provide that, where:—
(a)a tenancy deposit has been protected by the landlord under the scheme, and
(b)the tenancy has ended, and
(c)there is no dispute,
the landlord must repay to the tenant the full amount of the deposit as requested by the tenant within 5 working days beginning with the date on which the request was made.
(2) Paragraphs (4) to (9) apply where the tenant notifies the scheme administrator that:—
(a)the tenant has requested the landlord to repay the whole or any part of the deposit; and
(b)the amount in question (“the outstanding amount”) has not been repaid to the tenant within the period of 5 working days beginning with the date on which the request was made.
(3) Where a tenant gives notice under paragraph (2) the tenant must also indicate whether he consents to a dispute as to the amount to be repaid being resolved through the use of the dispute resolution mechanism.
(4) On receiving a notification in accordance with paragraph (2), the scheme administrator must direct the landlord:—
(a)to pay an amount equal to the outstanding amount into a designated account held by the scheme administrator; and
(b)to do so within the period of 5 working days beginning with the date on which the direction is received by the landlord.
(5) The following paragraphs apply where the tenant or the landlord subsequently notifies the scheme administrator:—
(a)that the tenant and landlord have agreed that such an amount is to be paid either wholly to one of them or partly to the one and partly to the other; or
(b)that a person acting as an adjudicator under Part 6 has made a decision that the outstanding amount is payable either wholly to one of them or partly to one and partly to the other.
(6) If the scheme administrator is satisfied as to the matters mentioned in paragraph (5) (a) or (b) as the case may be, the scheme administrator must:—
(a)pay to the tenant any amount due to him in accordance with the adjudicator's decision or an agreement between the tenant and the landlord and, to the extent possible, pay that amount out of any amount held by the scheme administrator by virtue of paragraph (4); and
(b)comply with paragraph (7) or (8), as the case may be.
(7) Where any amount held by the scheme administrator by virtue of paragraph (4) is more than any amount due to the tenant in accordance with the adjudicator's decision or agreement, the scheme administrator must pay the balance to the landlord.
(8) Where any amount so held by the scheme administrator is less than any amount so due to the tenant, the scheme administrator shall direct the landlord to pay him the difference within the period of 5 working days beginning with the date on which the direction given by the scheme administrator is received by the landlord.
(9) The scheme administrator must pay any amounts required to be paid to the tenant or the landlord as mentioned in paragraph (6)(a) or (7) within 5 working days beginning with the date on which the notification is received by the scheme administrator.
(10) The landlord must comply with any direction given in accordance with paragraphs (4) or (8).