Dormant Bank and Building Society Accounts Bill [HL]

My Lords, I apologise to the noble Lord, Lord Monson. I looked for him to tell him that I did not intend to move Amendment No.11 but he was not in his place and I did not know which place he was in. I hope his concerns are covered by my own amendment, as I said in my introductory remarks. The Government said that they fully expect the banks to behave in a way that meets the concerns I have raised and that money would not be transferred. The Minister says that the Act is designed to give the banks the ability to act on their knowledge. However, our concern is that they must act on the knowledge they have or on any other information that is available to them. The Minister also referred to the Banking Code, which is welcome and sets out some useful points. However, that is a voluntary code and not universal. Finally, he referred to this as a voluntary scheme. However, for the account holders it will become a compulsory scheme if the banks are allowed to define their own rules without reference to their knowledge of the account holders. I therefore wish to test the opinion of the House. On Question, Whether the said amendment (No. 12) shall be agreed to? Their Lordships divided: Contents, 168; Not-Contents, 132.