In the context of my previous comments to the Minister of State, we have already seen that there will be changes to the Residential Tenancies Act 2004 as a result of the Bill. I believe other changes could be made too and there is no obvious reason why they should not be made. The series of amendments allow for the creation of a national deposit scheme in which the Residential Tenancies Act would be significantly changed and a national treasury account would be created to establish at least €500,000 in holding deposits of tenants as part of a tenant landlord agreement. At present, when one hands over a deposit to a landlord there is no legislation governing what takes place to that deposit. A landlord may lodge it in his or her bank account or credit account. He or she may keep it in a jam jar or in a biscuit tin at home or may go to a shopping centre to buy a sofa or to Las Vegas if he or she so wishes.

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