The Secretary of State must make arrangements for securing that one or more tenancy deposit schemes are available for the purpose of safeguarding tenancy deposits paid in connection with shorthold tenancies.
For the purposes of this Chapter a "tenancy deposit scheme" is a scheme which—
Arrangements under subsection (1) must be arrangements made with any body or person under which the body or person ("the scheme administrator") undertakes to establish and maintain a tenancy deposit scheme of a description specified in the arrangements.
The Secretary of State may—
The Secretary of State may, in such manner and on such terms as it thinks fit, guarantee the discharge of any financial obligation incurred by the scheme administrator in connection with arrangements under subsection (1).
Arrangements under subsection (1) must require the scheme administrator to give the Secretary of State, in such manner and at such times as it may specify, such information and facilities for obtaining information as it may specify.
For further provision about what must be included in the arrangements, see section 212A.
The Secretary of State may make regulations conferring or imposing—
such powers or duties in connection with arrangements under subsection (1) as are so specified.
In this Chapter—
"authorised", in relation to a tenancy deposit scheme, means that the scheme is in force in accordance with arrangements under subsection (1);
"custodial scheme" and "insurance scheme" have the meaning given by paragraph 1(2) and (3) of Schedule 10);
"money" means money in the form of cash or otherwise;
"shorthold tenancy" means an assured shorthold tenancy of a dwelling-house in England within the meaning of Chapter 2 of Part 1 of the Housing Act 1988 (c. 50);
"tenancy deposit", in relation to a shorthold tenancy, means any money intended to be held (by the landlord or otherwise) as security for— arising under or in connection with the tenancy.
In this Chapter—