Dormant Bank and Building Society Accounts Bill [HL]

We expect that the body will be accountable exactly in terms of its responsibilities and the effective and proper use of its moneys. The noble Baroness is right that that is what will obtain. Within that framework, the body will have the necessary regulation, although it might be thought that it is somewhat pejorative to think that the body would run into very significant difficulties in this area in any case. However, the reserve power we are considering goes beyond that; if the body operated entirely outwith the purposes for which it is being established it guarantees that the objectives of the body and the reason why it has been created is safeguarded in the public interest. That is the role that we envisage for the Treasury in that respect.