PART 3PROVISIONS APPLYING TO ALL OCCUPATION CONTRACTS

CHAPTER 4DEPOSITS AND DEPOSIT SCHEMES

Deposit schemes

47Deposit schemes: interpretation

(1)

In this Act—

authorised deposit scheme” (“cynllun blaendal awdurdodedig”) means a deposit scheme in force in accordance with arrangements under paragraph 1 of Schedule 5 (and “deposit scheme” (“cynllun blaendal”) has the meaning given in sub-paragraph (2) of that paragraph);

deposit” (“blaendal”) means money paid as security;

initial requirements” (“gofynion cychwynnol”), in relation to an authorised deposit scheme, means the requirements of the scheme which must be complied with by the landlord when a deposit is paid;

security” (“sicrwydd”) means security for the performance of the contract-holder's obligations and the discharge of the contract-holder's liabilities.

(2)

In this Act references to a deposit, in relation to a time after a deposit has been paid, are to a sum representing the deposit.