Dormant Bank and Building Society Accounts Bill [HL]

I repeat that the scheme is highly transparent. The noble Baroness had the answer to her amendment in what she said: under company law, the reclaim fund will be required to prepare and file annual accounts with Companies House that may be accessed by all interested parties. That will cover the areas raised under the amendment. Under current company law and accountancy rules, which I know the noble Baroness is an expert on, the reclaim fund will publish an explanation of its reserves, including those to meet anticipated reclaim requests and its expenses, so that there is a true and fair view. Detailed information about its financial position will therefore be available from the annual accounts. We are trying to make this particular piece of legislation as light-touch as we possibly can. We see no reason to put in unnecessary requirements on the company, particularly when they already exist in law.