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Tenancy Deposit Schemes

Volume 507: debated on Monday 15 March 2010

To ask the Secretary of State for Communities and Local Government pursuant to the answer of 9 March 2001, Official Report, column 216W, on tenancy deposit schemes; if he will place in the Library a copy of the contract between his Department and each tenancy deposit scheme provider. (322327)

The contracts between Communities and Local Government and the tenancy deposit protection scheme providers contain, commercially confidential information. I am therefore unable to place copies in the Library.

To ask the Secretary of State for Communities and Local Government pursuant to the answer of 9 March 2010, Official Report, column 216W, on tenancy deposit schemes, what mechanisms are in place to ensure the financial viability of tenancy deposit schemes. (322355)

The contracts under which the tenancy deposit schemes operate are designed to ensure that they continue to be financially viable. Those contracts are commercially sensitive. But I can confirm that the mechanisms which they contain in order to safeguard financial viability include restrictions on investments and agreed method statements based on the schemes’ initial business planning assumptions. All these measures are kept under close review.

To ask the Secretary of State for Communities and Local Government pursuant to the answer of 9 March 2010, Official Report, column 216W, on tenancy deposit schemes, whether he has made an assessment of the adequacy of the self-financing aspect of the business models of the private companies under contract to his Department. (322356)

We closely monitor the three tenancy deposit scheme providers with contracts with Communities and Local Government and hold regular contract governance meetings with them. We are satisfied that their business models are adequate to facilitate the ongoing financing of their schemes.