Dormant Bank and Building Society Accounts Bill [HL]

My Lords, as I said in Grand Committee, we are sympathetic to the desire of large building societies to build on their existing charitable foundations, which support the communities in which they operate. These amendments affect only eight building societies, as the noble Lord, Lord Shutt, explained, although because of their relative size within the building society movement they would probably account for the vast majority of the £150 million or so that is estimated to come from dormant building society accounts. I can see that the Government fear losing control over a large tranche of dormant account money, which, if this provision were fully implemented, will escape the clutches of the Big Lottery Fund. We do not see that as a disadvantage, so we will support the Liberal Democrats if the Government do not accept the amendment of the noble Lord, Lord Shutt.