Dormant Bank and Building Society Accounts Bill [HL]

As I have indicated, the fund has running costs. That is all I was prepared to vouchsafe as a contributory answer to the question. I hope it meets the noble Lord’s anxieties, but it will not meet the noble Baroness’s as she wants some precision on the calculations. She will have to show a little patience on that. I have indicated that the Financial Services Authority will authorise a reclaim fund and will consult on the rules that should govern it, but it is a little early for any precision about how that structure will develop. I have already indicated that there is much work to be done on that. However, the structures are in place to guarantee public accountability.