Residential Tenancies Act 1997

This section applies if—

a lessor gives the tenant a signed bond release application form under section 34 (Bond release application—lessor’s obligations) in relation to a residential tenancy agreement; and

the tenant or, if there are co-tenants, each co-tenant signs the form.

The lessor or tenant may give the signed application to the Territory.

On receiving the signed application, the Territory must pay out of the trust account—

to the tenant or, if there are co-tenants, the co-tenants—the amount claimed as the bond in the application, less any amount claimed by the lessor as a deduction from the bond; and

to the lessor—any amount claimed as a deduction.

The amount paid out of the trust account must not exceed the amount of bond paid into the trust account in relation to the residential tenancy agreement.