Changes over time for: Cross Heading: Deposit schemes
Version Superseded: 01/12/2022
Status:
Point in time view as at 05/08/2016.
Changes to legislation:
Renting Homes (Wales) Act 2016, Cross Heading: Deposit schemes is up to date with all changes known to be in force on or before 17 May 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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Deposit schemesE+W
1(1)The Welsh Ministers must make arrangements for securing that one or more deposit schemes are available.E+W
(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.
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