Clause 5
Dormant Bank and Building Society Accounts Bill [Lords]
11:45 am
Ian Pearson (Parliamentary Under-Secretary, Department for Business, Enterprise & Regulatory Reform; Dudley South, Labour)
The investment policy of the reclaim fund is not a subject for the Bill. Investment activity would obviously be regulated through the FSA. The private company would determine its investment policy in accordance with the Bill and the prudential regulation regime that we have for companies of this nature.