In this Chapter "relevant fees", in relation to a letting agent, means the fees, charges or penalties (however expressed) payable to the agent by a landlord or tenant—
in respect of letting agency work carried on by the agent,
in respect of property management work carried on by the agent, or
otherwise in connection with—
an assured tenancy of a dwelling-house, or
a dwelling-house that is, has been or is proposed to be let under an assured tenancy.
Subsection (1) does not apply to—
the rent payable to a landlord under a tenancy,
any fees, charges or penalties which the letting agent receives from a landlord under a tenancy on behalf of another person,
a tenancy deposit within the meaning of section 212(8) of the Housing Act 2004, or
any fees, charges or penalties of a description specified in regulations made by the appropriate national authority.