Renting Homes (Wales) Act 2016

Deposit schemes

1 (1) The Welsh Ministers must make arrangements for securing that one or more deposit schemes are available.

(2) “Deposit scheme” means a scheme for the purpose of—

(a) safeguarding deposits paid in connection with occupation contracts, and

(b) facilitating the resolution of disputes arising in connection with such deposits.

(3) “Arrangements” means arrangements with any person (“the scheme administrator”) under which the scheme administrator undertakes to establish and maintain a deposit scheme of a description specified in the arrangements.

(4) The arrangements must require the scheme administrator to give the Welsh Ministers such information, and such facilities for obtaining information, as the Welsh Ministers may require.

(5) The Welsh Ministers may—

(a) give financial assistance to the scheme administrator;

(b) make other payments to the scheme administrator in pursuance of the arrangements;

(c) guarantee the discharge of any financial obligation incurred by the scheme administrator in connection with the arrangements.

(6) The Welsh Ministers may make regulations conferring powers and imposing duties on scheme administrators.