Renting Homes (Wales) Act 2016 (anaw1)

Valid from 01/09/2019

PART 3 E+W PROVISIONS APPLYING TO ALL OCCUPATION CONTRACTS

CHAPTER 4 E+W DEPOSITS AND DEPOSIT SCHEMES

Deposit schemes E+W

Valid from 01/12/2022

47 Deposit schemes: interpretation E+W

(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.