(1) A bond release application may be made before the termination of a residential tenancy agreement if it is—
(a) made by the tenant and lessor jointly; or
(b) made by the lessor for payment to the tenant, or by the tenant for payment to the lessor, of the total amount of the bond paid under the agreement; or
(c) made by the lessor or tenant in accordance with an order of the ACAT stating that money is to be paid from an amount of bond.
Note 1 If a form is approved under s 133 for this provision, the form must be used.
Note 2 Section 34E deals with applications mentioned in s (1) (c).
(2) On receiving an application under subsection (1) (a), the Territory must pay out of the trust account—
(a) to the tenant—the amount claimed as the bond in the application, less any amount claimed by the lessor as a deduction from the bond; and
(b) to the lessor—any amount claimed as a deduction;
(3) On receiving an application under subsection (1) (b), the Territory must pay out of the trust account the amount claimed as the bond to the person mentioned in the application as the recipient.
(4) The amount paid out of the trust account under subsection (2) or (3) must not exceed the amount of bond paid into the trust account in relation to the residential tenancy agreement.