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Proceeding contribution from Lord Newby (Liberal Democrat) in the House of Lords on Thursday, 10 January 2008. 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]

Perhaps I may ask the Minister a question that I should probably have raised under another amendment. The noble Baroness has raised an interesting point. Clause 10(2) states that, "““an account is to be treated as not dormant if at any time … the bank or building society in question was under instructions from the holder … not to communicate with that person””." If I have an account for which I am fed up with getting statements and say to the bank, ““I don’t want you to talk to me about this again””, does that mean that the bank will then not communicate with me, and that the account will stay dormant until I communicate with the bank possibly 30 years down the line, or be deemed to be dormant on my demise?

Secondary information

Type
Proceeding contribution
Reference
697 c341GC 
Session
2007-08
Chamber / Committee
House of Lords Grand Committee
Subjects
Disclosure of information Codes of practice Assets Bank services Banks Building societies Fraud Education Environment Interest charges Lotteries Young people Repayments Big Lottery Fund Information Commissioner's Office Olympic Games 2012
Legislation
Dormant Bank and Building Society Accounts Bill (HL) 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk