Dormant Bank and Building Society Accounts Bill [HL]

My Lords, I indicated why the amendment is unacceptable to us and the reservations we have about it. The noble Lord makes the obvious point that the Government should be ready for all developments at all times. These arguments were presented in Committee. The Government are asked to listen to the arguments made in Committee and to respond. The amendment has been tabled today on Report. I am indicating that the Government agree with the principle. We have listened, we agree with the principle and we will take constructive action. At Third Reading I will announce how the Government envisage that action should be taken. I am signalling to the House that I do not think the measure needs to be included in the Bill. Of course, the House must judge the value of the point I am making. I hope that I will at least be given credit for the fact that I am not indicating straightforward disagreement with the amendment; far from it. I accept the principle behind it. The Government have the right to indicate that they will try to solve this problem in their own way. It will then be for the House to judge whether that way is satisfactory.