Dormant Bank and Building Society Accounts Bill [HL]

I am grateful to the noble Baroness, Lady Noakes, for her provisional support. For the reason I specified, half-yearly or yearly statements are sent, in my experience, because banks like to reduce their costs and do not like sending out monthly statements. I know of one semi-dormant charity account that I deal with where that takes place. I could not grasp the Minister’s argument, but it seems to me that the Bill as it stands is not satisfactory. However, it would appear that the Government’s Amendment No. 42 puts the ball in the court of the account holder, who must actually ask the bank to make the account dormant, otherwise it is not. If that is the case, and assuming Amendment No. 42 is passed, all will be well and good. It certainly gives the extra protection that we are looking for. For the time being, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.