Dormant Bank and Building Society Accounts Bill [HL]

I am grateful to the noble Baroness for moving this amendment and wonder whether, in replying, the Minister could take this opportunity to explain in more general terms how the reclaim fund will be established and how it will work. The Bill has some provisions relating to the reclaim fund but it says very little about who will decide how it is constituted and how its directors are appointed—I have a probing amendment on that further on in the Marshalled List. Is it to be a creature of the BBA? What will its relationship be with other bodies that might conceivably take on this role, such as Charity Bank, and how will it work? More specifically, to pursue a point raised yesterday by my noble friend Lord Shutt, who talked about the importance of the judgment of the directors of the reclaim fund, under the clause that we are debating now will the Treasury be able to overrule the directors in respect of the proportion of the funds received by the reclaim fund which are dispersed?