A locking system for an enclosure (10) wherein the enclosure (10) includes a base (12) and a moveable cover (14). The cover (14) is moveable only when a key operated slide (70) is moved by a key (26) inserted into a key slot (24). Once the cover (14) is moved, the key (26) cannot be removed from the key slot (24) until the cover (14) is returned to the closed positioned. A moveable latch (50) holds the cover (14) to the base (12). The key operated slide (70) selectively connects and disconnects from the latch (50) to allow the cover (14) to be moved. The latch (50) cooperates with a clip (94) on the slide (70) which allows the slide (70) to return to the locked position to allow the key (26) to be removed from the key slot (24) only when the cover (14) and the latch (50) are closed. One or two latches can be provided with a corresponding number of key operated slides (70). The key (26) is rotatable to move the slide (70) from an extended and locked position to a retracted and unlocked position.