Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Monday, 10 December 2007. It occurred during Debate on bill and Committee proceeding on Dormant Bank and Building Society Accounts Bill [HL].
Dormant Bank and Building Society Accounts Bill [HL]
As I have indicated, the fund has running costs. That is all I was prepared to vouchsafe as a contributory answer to the question. I hope it meets the noble Lord’s anxieties, but it will not meet the noble Baroness’s as she wants some precision on the calculations. She will have to show a little patience on that. I have indicated that the Financial Services Authority will authorise a reclaim fund and will consult on the rules that should govern it, but it is a little early for any precision about how that structure will develop. I have already indicated that there is much work to be done on that. However, the structures are in place to guarantee public accountability.
Secondary information
- Type
- Proceeding contribution
- Reference
- 697 c40GC
- Session
- 2007-08
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Charities Assets Bank services Banks Building societies Insurance Interest charges Pensions Lotteries Repayments Taxation Big Lottery Fund
- Legislation
- Dormant Bank and Building Society Accounts Bill (HL) 2007-08
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-16 02:31:43 +0000
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