moved Amendment No. 42: 42: Clause 10, page 6, line 34, at end insert— ““( ) For the purposes of subsection (1) an account is to be treated as remaining open where it is closed otherwise than on the instructions of the holder of the account.”” The noble Lord said:...

moved Amendment No. 42: 42: Clause 10, page 6, line 34, at end insert— ““( ) For the purposes of subsection (1) an account is to be treated as remaining open where it is closed otherwise than on the instructions of the holder of the account.”” The noble Lord said:...

I am not sure that I can respond to the noble Baroness’ interesting but challenging question directly, but let me adumbrate the principle again. First, as I said to the noble Lord, Lord Shutt, we are seeking to make sure that there are no undue obstructions on resources being made...

I am not sure that I can respond to the noble Baroness’ interesting but challenging question directly, but let me adumbrate the principle again. First, as I said to the noble Lord, Lord Shutt, we are seeking to make sure that there are no undue obstructions on resources being made...

I never thought I would see the day when the noble Baroness was eager to see the Treasury have additional powers, certainly not while I was standing at this Dispatch Box, but she is, and I can emphasise to her on principle that I disagree. This is a private scheme...

I never thought I would see the day when the noble Baroness was eager to see the Treasury have additional powers, certainly not while I was standing at this Dispatch Box, but she is, and I can emphasise to her on principle that I disagree. This is a private scheme...

That is an interesting point. It is so interesting that I am lost in interest rather than able to provide an immediate reply. As I said, I have had it confirmed that if a transaction occurs in relation to the account, it must be because of an instruction given by...

That is an interesting point. It is so interesting that I am lost in interest rather than able to provide an immediate reply. As I said, I have had it confirmed that if a transaction occurs in relation to the account, it must be because of an instruction given by...

As the noble Baroness said, she promised to return to this and I knew that she would fulfil her promise. I hope that I am better equipped today to respond to the points that she made. Perhaps a little refreshment on the issues after the new year is appropriate. This...

As the noble Baroness said, she promised to return to this and I knew that she would fulfil her promise. I hope that I am better equipped today to respond to the points that she made. Perhaps a little refreshment on the issues after the new year is appropriate. This...

I would not want to be accused of excessive naivety about how financial institutions work. We should recall the purpose of the transfer of funds. If the bank reaches a judgment, the account is dormant; the bank is not the beneficiary—the funds go to the reclaim fund. I am not...

I would not want to be accused of excessive naivety about how financial institutions work. We should recall the purpose of the transfer of funds. If the bank reaches a judgment, the account is dormant; the bank is not the beneficiary—the funds go to the reclaim fund. I am not...

Clause 10 sets out the minimum conditions that an account must meet to be regarded as dormant. No-mail accounts and fixed-term accounts which have not reached their maturity date are excluded from the definition. That is because the aim is to cover accounts that are genuinely dormant. It is difficult...

Clause 10 sets out the minimum conditions that an account must meet to be regarded as dormant. No-mail accounts and fixed-term accounts which have not reached their maturity date are excluded from the definition. That is because the aim is to cover accounts that are genuinely dormant. It is difficult...

The noble Baroness is fertile in producing some interesting illustrations of how dormancy may not be defined in the Bill. This is another interesting illustration, which I will probably need to reflect on, as will my officials. However, she will recognise that banks are not totally unfamiliar with the complexities...

The noble Baroness is fertile in producing some interesting illustrations of how dormancy may not be defined in the Bill. This is another interesting illustration, which I will probably need to reflect on, as will my officials. However, she will recognise that banks are not totally unfamiliar with the complexities...

The definitions of dormancy are limited because they mean that a customer sees those resources going into the reclaim fund. They are minimalist definitions. The bank can follow its normal procedures for reaching a judgment on whether an account is dormant in the circumstances that the noble Baroness identified. She...

The definitions of dormancy are limited because they mean that a customer sees those resources going into the reclaim fund. They are minimalist definitions. The bank can follow its normal procedures for reaching a judgment on whether an account is dormant in the circumstances that the noble Baroness identified. She...

The answer to the noble Lord is definitively yes. Instructions would have been given and the bank would therefore operate under them. Those instructions would obtain, until, for some reason which would have to be justifiable in terms of law, the bank was able to show that the claimant no...

The answer to the noble Lord is definitively yes. Instructions would have been given and the bank would therefore operate under them. Those instructions would obtain, until, for some reason which would have to be justifiable in terms of law, the bank was able to show that the claimant no...

I imagine that all noble Lords share that sentiment.

I imagine that all noble Lords share that sentiment.

The noble Baroness fairly described the powers of the Information Commissioner and I do not need to repeat those nor enter into a debate on them. The amendment would go further than the Data Protection Act 1998 to allow the Information Commissioner to exercise powers in relation to any information...

The noble Baroness fairly described the powers of the Information Commissioner and I do not need to repeat those nor enter into a debate on them. The amendment would go further than the Data Protection Act 1998 to allow the Information Commissioner to exercise powers in relation to any information...

We have already cantered around this course several times and each of the jumps is becoming increasingly familiar. With this amendment, the noble Baroness again wants a fully inclusive definition of ““dormancy”” to be put in statute, imposing on the banks all the circumstances in which they will be obliged...

We have already cantered around this course several times and each of the jumps is becoming increasingly familiar. With this amendment, the noble Baroness again wants a fully inclusive definition of ““dormancy”” to be put in statute, imposing on the banks all the circumstances in which they will be obliged...

Not at all. We will follow the principle of additionality. It is very important that we should, which is why we propose to set up the machinery in this way to guarantee that. Those are the principles under which the Big Lottery Fund has been obliged to operate since its...

Not at all. We will follow the principle of additionality. It is very important that we should, which is why we propose to set up the machinery in this way to guarantee that. Those are the principles under which the Big Lottery Fund has been obliged to operate since its...

I am grateful to all noble Lords who have participated in this interesting debate. We have certainly changed gear; it always adds a certain liveliness to proceedings when we discuss spending. We shall discuss these issues for a little while yet. An amendment has been tabled with the dreaded concept...

I am grateful to all noble Lords who have participated in this interesting debate. We have certainly changed gear; it always adds a certain liveliness to proceedings when we discuss spending. We shall discuss these issues for a little while yet. An amendment has been tabled with the dreaded concept...

This may be a convenient time for the Committee to adjourn until Tuesday at 3.30 pm.

This may be a convenient time for the Committee to adjourn until Tuesday at 3.30 pm.

I am grateful to the noble Lord because he recognises what we are seeking to achieve with this technical amendment. That is exactly what we are seeking to do—there should not, in fact, be an obstruction to the account being defined as dormant, because of the technical nature of the...

I am grateful to the noble Lord because he recognises what we are seeking to achieve with this technical amendment. That is exactly what we are seeking to do—there should not, in fact, be an obstruction to the account being defined as dormant, because of the technical nature of the...

I remember at Second Reading the noble Lord saying that a relative of his had left him 15 shillings, or 60p. If the noble Lord talks about historical records in those terms, I will have difficulty in responding to him. He will recognise that what is being transferred into this...

I remember at Second Reading the noble Lord saying that a relative of his had left him 15 shillings, or 60p. If the noble Lord talks about historical records in those terms, I will have difficulty in responding to him. He will recognise that what is being transferred into this...

The noble Lord, Lord Newby, argued his case forcefully. The noble Baroness, Lady Noakes, kindly argued my case by representing the two positions in respect of 10 years and 15 years. She was right that the Select Committee was presented with figures by the British Bankers’ Association which showed that...

The noble Lord, Lord Newby, argued his case forcefully. The noble Baroness, Lady Noakes, kindly argued my case by representing the two positions in respect of 10 years and 15 years. She was right that the Select Committee was presented with figures by the British Bankers’ Association which showed that...

Banks and building societies are normally under a duty not to disclose information about their customers’ affairs to third parties without the customers’ consent. That is an important obligation subject to only very limited exceptions. The proposed agency arrangements, under which claims for repayment against the reclaim fund will be...

Banks and building societies are normally under a duty not to disclose information about their customers’ affairs to third parties without the customers’ consent. That is an important obligation subject to only very limited exceptions. The proposed agency arrangements, under which claims for repayment against the reclaim fund will be...