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Dormant Bank and Building Society Accounts Bill [HL]

I think that we will be returning to this topic on Report because the Minister consistently articulates the issue in terms of what banks do and I consistently try to articulate it in terms of the account holder and his right to have his account ring-fenced from the ambit of this legislation if he so chooses. On the whole, I do not believe that people would want their accounts to be swept into the reclaim fund, as that would push them into a reuniting situation. As we discussed during our previous day in Committee, the reclaim fund may well run out of money for various reasons and it will probably have a lower covenant value than the major commercial banks. Therefore, there is no reason why an account holder should be forced to have his money temporarily confiscated through this legislation, which is drafted from the perspective of the banks rather than that of account holders. As I said, we will return to this matter on Report but, for today, I beg leave to withdraw the amendment. Amendment, by leave, withdrawn.