Who Deposits the Deposit

Tenancy Deposits

Have heard conflicting opinions on this one...What do you think....When an agent takes the Deposit from a tenant he has secured for a property he does not manage, should the agent deposit the Deposit in his account (as he has actually taken the money)then arrange move it over to the landlord's deposit account or just give the landlord the money with written instruction that they must deposit it legally etc. quoting the TDPS rules; is that sufficient? Or should eth agent just keep it in his account until the landlord instructs him otherwise if / when the tenancy ends? Your thoughts are eagerly invited!