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Proceeding contribution from Viscount Eccles (Conservative) in the House of Lords on Tuesday, 11 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]

I am equally interested in the start-up of this company. When it starts, it has to have expenses. If its share capital is not sufficient—if it is going to have any substantial share capital, that is, but perhaps it will only be a £100 company—it will need a bridging loan, otherwise it will never come into operation. It has to set up systems and employ people to operate them in advance of any money coming from the banks and building societies from dormant accounts. Will we have more details about the company before we get to the further stages of the Bill? Without such details, it is extremely difficult to judge whether the scheme is sound.


Secondary information

Type
Proceeding contribution
Reference
697 c90GC 
Session
2007-08
Chamber / Committee
House of Lords Grand Committee
Subjects
Disclosure of information Compensation Databases Codes of practice Charities Companies Assets Bank services Banks Building societies Fraud Finance Financial Services Authority Private sector Lotteries Public bodies Registration Regulation Repayments Shareholders Big Lottery Fund Commission on Unclaimed Assets
Link
View this Proceeding contribution on www.publications.parliament.uk