Dormant Bank and Building Society Accounts Bill [HL]

moved Amendment No. 54: 54: Clause 15, page 7, line 33, after ““Fund”” insert ““, under the name of ““The Reawakened Fund””,”” The noble Lord said: Earlier the Minister was vague on how much was coming in and vague on how much was going out and I wondered whether it might be called the ““Vague”” fund. No, that could be even worse. There is a lot here that is right in terms of separate accounting. It is quite clear that the dormant moneys are separate moneys and that there has to be proper accounting. Let us have some clarity; let it be very clear that it is separate and that it has its own name. We should try to think of something better. ““Reawakened”” seems to bring life. It is a far better name than ““Vague”” and ““Big””, so why not try ““Reawakened””? The main reason for considering the name is the issue of clarity. However, we have to be careful because the Big Lottery Fund knows about giving money away. It has experience, a regional network and so on and therefore there is a case for it to act as an agency for this money. But it has got to be labelled differently from ““Big Lottery””. The right reverend Prelate indicated earlier about faith concerns being involved with youth. We all know that many people from the faith communities have tremendous reservations about taking, or do not wish to take, money from the proceeds of gambling, so it needs to be clear that this is not lottery money. It should be labelled separately and ““Reawakened”” would be a good name. The Big Lottery Fund has been here before. About the middle of September the Government took the initiative to place £100 million with the lottery fund, which asked organisations throughout the country to approach local authorities to see if they had any unwanted buildings which could be put to good community use. The £100 million was available for organisations to bid for them, provided that they had the support of the local authorities concerned to put the two things together. What happened? On its own initiative, the Big Lottery Fund labelled it ““community assets””. That is an example of the lottery already doing that. Here we are with an opportunity to do this. It is important that it is labelled separately. The accounting and so on will be separate. Let us be clear about it. I beg to move.