Dormant Bank and Building Society Accounts Bill [HL]

We support the amendment very strongly. Our view is that the scheme is at best a hybrid scheme. It certainly has a significant statutory element to it, so Parliament should be scrutinising it rigorously on a regular basis. The proposal in this amendment provides a peg on which to hang parliamentary scrutiny of how the reclaim fund is operating. The specific elements of the amendment are self-explanatory and sensible, and we hope that the Government will agree with us, in the spirit that the Minister operated under a few minutes ago, and signify some support for it.