Dormant Bank and Building Society Accounts Bill [HL]

I do not think there is any doubt that robust self-regulation and total commitment to the scheme is what we would hope for from the banks, with as little bureaucracy as possible and the minimum of anything getting in the way of the actual administration of the funds for the benefit of the charitable sector. We therefore need to look at enshrining the spirit of co-operation. Although I agree with many of those who say that we should aim for compulsion, such a course would veer us away from the one we want by making the banks start from a position of defensiveness rather than co-operation. If the scheme is to work to the benefit of the charitable sector we will need to see co-operation all round.