Schedule 1
Dormant Bank and Building Society Accounts Bill [Lords]
11:45 am
Martyn Jones (Clwyd South, Labour)
I welcome the Government amendments, particularly in relation to more transparency. If we have a voluntary scheme, as presently proposed, we need transparency to see whether banks and building societies are participating fully. Given that the amendments allow for transparency in terms of the cash amounts given to the reclaim fund, is there any way that the average person in the street can judge how much money is in dormant accounts in those banks and building societies that contribute? We could also judge how many are not contributing at all. As far as I can see, although we have the ability, with the amendments and the Bill, to see how much money goes into the fund, we do not know how much money was available.