New South Wales Consolidated Acts

LANDLORD AND TENANT (RENTAL BONDS) ACT 1977 - SECT 10

10 Provisions in leases relating to rental bonds

(1) Notwithstanding the terms of any agreement, no person (other than the Board) shall, in respect of any period after the date that an amount of money equivalent to the amount of a rental bond is deposited with the Board, be entitled to receive interest in respect of that rental bond.

(1A) This section does not prevent the payment under section 11 of an amount equivalent to interest as referred to in section 11A.

(2) Subject to subsection (3), the terms and conditions of a lease, to the extent that those terms and conditions are rendered inoperative by the provisions of this Act, shall be deemed to be void.

(3) Where, but for this Act, a lessor or lessee would have a claim against a rental bond under the terms and conditions of a lease for an amount which cannot be recovered under any other provision of those terms and conditions:

(a) that lessor may recover from the lessee as a debt an amount equivalent to the amount of the claim that the lessor would have had against that rental bond, and

(b) that lessee may recover from the lessor as a debt an amount equivalent to the amount of the claim that the lessee would have had against that rental bond.