If the noble Baroness would be so kind, I would like to reassure her—because she will have taken very seriously the representation of her noble friend Lord Naseby—that accountability is very important with regard to these funds and this scheme. We will have a series of opportunities to identify how...

If the noble Baroness would be so kind, I would like to reassure her—because she will have taken very seriously the representation of her noble friend Lord Naseby—that accountability is very important with regard to these funds and this scheme. We will have a series of opportunities to identify how...

I declare an interest as a member of the Commission on Unclaimed Assets, ably chaired by the Sir Ronald Cohen. Those of us who worked for two years on that commission were delighted that the idea of getting in touch with and using unclaimed assets or dormant accounts for the...

I declare an interest as a member of the Commission on Unclaimed Assets, ably chaired by the Sir Ronald Cohen. Those of us who worked for two years on that commission were delighted that the idea of getting in touch with and using unclaimed assets or dormant accounts for the...

I am grateful to all Members of the Committee who have spoken, particularly to the noble Baroness, Lady Noakes, who I thought put the rejoinder to the noble Lord, Lord Newby, far more eloquently than I could. I therefore do not propose to embellish the main argument; the position she...

I am grateful to all Members of the Committee who have spoken, particularly to the noble Baroness, Lady Noakes, who I thought put the rejoinder to the noble Lord, Lord Newby, far more eloquently than I could. I therefore do not propose to embellish the main argument; the position she...

We may be surprised by what the Minister says but my guess is that he will defend the voluntary scheme. I have just one question on this voluntary scheme: what is it that we are asking the banks to volunteer for? Is it whether they join the scheme, or the...

We may be surprised by what the Minister says but my guess is that he will defend the voluntary scheme. I have just one question on this voluntary scheme: what is it that we are asking the banks to volunteer for? Is it whether they join the scheme, or the...

I take seriously the noble Lord’s point about the way in which the subsection is drafted. Perhaps we may look at that again. I am waiting for an answer from my officials that confirms what the noble Lord presumed. He may have to wait a little longer. It is better...

I take seriously the noble Lord’s point about the way in which the subsection is drafted. Perhaps we may look at that again. I am waiting for an answer from my officials that confirms what the noble Lord presumed. He may have to wait a little longer. It is better...

This raises the question of how the reclaim fund invests the money. Potentially, it could be required to pay out significantly more than it receives—for example, the five shillings and eleven pence of my noble friend Lord Shutt could be worth £20 or £30, whatever it is. Presumably the reclaim...

This raises the question of how the reclaim fund invests the money. Potentially, it could be required to pay out significantly more than it receives—for example, the five shillings and eleven pence of my noble friend Lord Shutt could be worth £20 or £30, whatever it is. Presumably the reclaim...

Obviously, if one sets the figure very high the number of claimants is likely to be lower. I am slightly worried about the five and 11p as I was the Minister responsible for carrying decimalisation through. But be that as it may, I come to the important point originally raised...

Obviously, if one sets the figure very high the number of claimants is likely to be lower. I am slightly worried about the five and 11p as I was the Minister responsible for carrying decimalisation through. But be that as it may, I come to the important point originally raised...

The whole Committee is at one on the objective, which is as far as possible to reunite people with their rightful resources, so I very much welcome the motivation behind the amendment of the noble Lord, Lord Higgins. I shall be increasingly embarrassed in this Committee if the noble Baroness,...

The whole Committee is at one on the objective, which is as far as possible to reunite people with their rightful resources, so I very much welcome the motivation behind the amendment of the noble Lord, Lord Higgins. I shall be increasingly embarrassed in this Committee if the noble Baroness,...

Although this is not strictly germane to the Bill, can the Minister try to persuade company registrars to join this one-stop shop? They are the real villains of the piece here but they make absolutely no effort to reunite with their money those who are entitled to dividends and, in...

Although this is not strictly germane to the Bill, can the Minister try to persuade company registrars to join this one-stop shop? They are the real villains of the piece here but they make absolutely no effort to reunite with their money those who are entitled to dividends and, in...

My noble friend has come precisely to the points that I was going to make. With regard to the smaller accounts, it could well be that the local or regional press is a better way in which to pursue this aim. Furthermore, there is presumably already some idea of the...

My noble friend has come precisely to the points that I was going to make. With regard to the smaller accounts, it could well be that the local or regional press is a better way in which to pursue this aim. Furthermore, there is presumably already some idea of the...

I shall speak to Amendment No. 16, but before I do so, I say that we, too, are here to widen the Bill so that it presents greater opportunities. We, too, had bother with the Public Bill Office, as did the noble Baroness. It may well have been operating by...

I shall speak to Amendment No. 16, but before I do so, I say that we, too, are here to widen the Bill so that it presents greater opportunities. We, too, had bother with the Public Bill Office, as did the noble Baroness. It may well have been operating by...

moved Amendment No. 1: 1: Clause 1, page 1, line 4, at end insert— ““( ) This section and section 2 are subject to section (Report on operation of schemes in sections 1 and 2).”” The noble Baroness said: In moving Amendment No. 1, I shall also speak to Amendment...

moved Amendment No. 1: 1: Clause 1, page 1, line 4, at end insert— ““( ) This section and section 2 are subject to section (Report on operation of schemes in sections 1 and 2).”” The noble Baroness said: In moving Amendment No. 1, I shall also speak to Amendment...

I apologise for not participating in the debate at Second Reading and for juggling this Bill and the Bill in the Chamber, but such is life. It may be more appropriate for me to speak to Amendment No. 24, but I wish to support Amendments Nos. 16, 24 and 44....

I apologise for not participating in the debate at Second Reading and for juggling this Bill and the Bill in the Chamber, but such is life. It may be more appropriate for me to speak to Amendment No. 24, but I wish to support Amendments Nos. 16, 24 and 44....

I am grateful to all noble Lords who have spoken in this important debate. I am sorry about the trouble the opposition Front Benches have had with the Public Bill Office. That is not an experience I have ever enjoyed. Generally it is the Government who wince a little at...

I am grateful to all noble Lords who have spoken in this important debate. I am sorry about the trouble the opposition Front Benches have had with the Public Bill Office. That is not an experience I have ever enjoyed. Generally it is the Government who wince a little at...

We have had an interesting first debate. I notice that the Minister did not ask me to withdraw my amendment. Perhaps he will accept it—or perhaps not. I wish he had read the amendment, because he spent most of his response telling me how difficult it was to deal with...

We have had an interesting first debate. I notice that the Minister did not ask me to withdraw my amendment. Perhaps he will accept it—or perhaps not. I wish he had read the amendment, because he spent most of his response telling me how difficult it was to deal with...

I thank my noble friend for that further contribution. I think the Minister will have received the message that there is considerable support for leaving a trail in the Bill that allows gathering in other assets.

I thank my noble friend for that further contribution. I think the Minister will have received the message that there is considerable support for leaving a trail in the Bill that allows gathering in other assets.

The noble Lord, Lord Shutt, asked whether the banks were completely involved in the scheme. Can banks, for instance, say that they are in the scheme but then choose their own definitions for dormant accounts which are stricter than those in the Bill and thereby not transfer much money? It...

The noble Lord, Lord Shutt, asked whether the banks were completely involved in the scheme. Can banks, for instance, say that they are in the scheme but then choose their own definitions for dormant accounts which are stricter than those in the Bill and thereby not transfer much money? It...

The Minister mentioned FSA regulation as a part of the scheme that will ensure that the money is paid out under the dormant accounts schemes. The FSA regulates banks and building societies, and it is intended to make repayment claims subject to the FSA. I am not sure that I...

The Minister mentioned FSA regulation as a part of the scheme that will ensure that the money is paid out under the dormant accounts schemes. The FSA regulates banks and building societies, and it is intended to make repayment claims subject to the FSA. I am not sure that I...

That is an important point and we shall have a chance to discuss it later. The Committee would not want me to trail an extensive answer before further significant points are made. We are all too well aware of the importance of the starting point. That is why the definitions...

That is an important point and we shall have a chance to discuss it later. The Committee would not want me to trail an extensive answer before further significant points are made. We are all too well aware of the importance of the starting point. That is why the definitions...

I was not suggesting that the FSA had that position but identifying that it has an important role in regulating banks. This scheme is based largely on a light regulatory touch. The revision of the Banking Code and the openness with which banks have to meet their obligations within the...

I was not suggesting that the FSA had that position but identifying that it has an important role in regulating banks. This scheme is based largely on a light regulatory touch. The revision of the Banking Code and the openness with which banks have to meet their obligations within the...