Dormant Bank and Building Society Accounts Bill [HL]

I am not clear about the reclaim fund and how it will operate—perhaps nobody is. One way in which the reclaim fund could work is for the bank to scour its position and decide, ““Well, there is £25 million. We will send a cheque to the reclaim fund””. All the reclaim fund will know is that it has got £25 million—and that is it. If people pop up later and say to the bank, ““Just a minute, we’ve got £10,000; we’ve found the passbook in the attic””, does the bank say, ““That’s part of the £25 million””? Is that how it is going to work? It will not be the reclaim fund that deals with that person but the bank. However, no doubt the reclaim fund will need to be satisfied that the bank has got it right. My noble friend has tabled an amendment which, although it does not mention the reclaim fund, does seek the introduction of a register. There is an issue of who should hold the register, but that is a different point. The question is whether the reclaim fund needs any of these names at all.