Clause 11
Dormant Bank and Building Society Accounts Bill [Lords]
12:15 pm
Mark Hoban (Shadow Minister, Treasury; Fareham, Conservative)
I wonder whether the hon. Gentleman could expand on the wording of his amendment where he says that
“the bank or building society in question has exhausted all reasonable efforts to inform the account holder.”
What does he believe that “all reasonable efforts” might encompass? For example, one bank has employed a tracing agency to track down the owners of accounts holding more than £1,000. Is that reasonable, or would it be expected to go further to include lower-value accounts?