Dormant Bank and Building Society Accounts Bill [HL]

My Lords, if I may interpret what the noble Lord, Lord Higgins, means, I think he wants to know how it is going to work. To my simple mind, it seems that, once the bank decides that surplus funds are available and it has made every effort to trace the owners, it then writes a cheque for, say, £5 million and sends it to the reclaim fund saying, ““This is in respect of these 10,000 deposit holders””. I assume that they will be listed somewhere, because if someone else turns up and the bank says, ““Well, we sent your money on””, the person will say, ““I did not deal with the reclaim fund, I dealt with you””. Therefore I should have thought that the bank would go to the reclaim fund and say, ““Look, here is the proof. That is the name on the list that corresponds to the cheque that we sent. We would like the money back, please””. If that is not the case, it should be explained to us.