Housing: Leaseholder Deposit Protection

Baroness Oppenheim-Barnes Excerpts

Monday 23rd July 2012 Lords Chamber

[Baroness Hanham]

The noble and learned Baroness will be aware that this was not our legislation: it was the legislation of the previous Government and it was the previous Government's responsibility to implement it.

[Baroness Oppenheim-Barnes]

Is my noble friend aware that, very often, sinking funds that go missing amount to millions of pounds affecting only about 100 leaseholders? It is not acceptable for this to be allowed to continue under the Act.

[Baroness Hanham]

My Lords, there are voluntary regulators and voluntary regulations and organisations that are keeping an eye on this. I am sure my noble friend will agree that it is not always for the law or for Parliament to dictate or regulate and that an industry can be self regulating. That is the situation at present.