Dormant Bank and Building Society Accounts Bill [HL]

moved Amendment No. 30: 30: Schedule 1, page 16, line 2, at end insert— ““Directors to the Reclaim Fund 4 The Secretary of State must appoint all of the directors to the Reclaim Fund.”” The noble Lord said: The Committee will be pleased to know that I do not intend to spend much time on this probing amendment. All the issues that surround it have been debated at great length. It is no use asking the Government who the shareholders and the directors will be, or anything like that, because they have not the faintest clue. When I was an innocent in the ways of a reclaim fund, it seemed to me logical that since it was being set up by the Government, they might want to have some part in appointing the directors to it. Given the Government’s role, including government nominees on the board seems at least worth considering, even if they were a minority. However, I am sure that the Minister will be unable to give me any more information than he already has in answer to questions about directors raised by the noble Baroness and other noble Lords. Therefore, I see no purpose in spending longer on the amendment but to say that if he has found in the past hour any new information which would shed light on that issue, I would be very grateful for it. I beg to move.