Bradford-born businessman Derek Walpole has been appointed head of the new body established to avoid a repeat of last year's Farepak scandal.
Mr Walpole will be chairman of the Christmas Pre-payments Authority, charged with overseeing schemes to ring-fence the money of Christmas hamper savings.
Mr Walpole said: "Some of the most vulnerable families in the UK were affected by the collapse of Farepak.
"We cannot prevent a company going into liquidation but what we are saying is we will make 99.9 per cent certain that the money they have put in is safe and is not wrapped up with the company's profits and shares."
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