Dormant Bank and Building Society Accounts Bill [HL]

Well, I think I have been guilty of making things too obvious. Let me emphasise that I would have thought that the fact that the specification that this account was to be defined as non-dormant was something that the bank would take into account. We are indicating that in a number of other areas the bank is motivated by the scheme to seek to ensure that assets are reclaimed by the holders. If a bank receives a straightforward instruction that an account is not to be directed towards the dormant category and taken into the reclaim fund, it is obviously part of banking practice. If that action were taken after the account had been opened, I cannot think of anything that is likely to render the bank more liable to criticism than the straightforward instruction that, even in 15 years’ time or beyond, the account is to be defined as non-dormant. There has been an instruction to the bank. So I do not see a need to put this into legislation. I am sorry not to be helpful to the Committee. I was surprised at the eulogy of the Government by the noble Lord, Lord, Lord Monson, but it did not manage to survive more than an hour this afternoon. In fact, I have been counting the minutes of its endurance. I know that he will speak shortly and I will certainly do my best to reawaken his faith in the Government’s position when we reach Amendment No. 42. For now, I can reply only in the way that I have replied to other representations on the definition of dormancy; but regarding this amendment, nothing could be more explicit to the bank and we would expect the bank or building society to follow that explicit instruction.