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Proceeding contribution from David Leslie Taylor (Labour) in the House of Commons on Monday, 6 October 2008. It occurred during Debate on bill on Dormant Bank and Building Society Accounts Bill [Lords].


Dormant Bank and Building Society Accounts Bill [Lords]

The hon. Gentleman has mentioned that two sources of dormant assets may produce the financial flows that we have heard described today, but there are also comparable sums of dormant assets in insurance policies and, in particular, in NS&I. The Treasury Committee recommended that, in respect of equity, NS&I assets should be treated in the same way as those of banks and building societies. The Government have refuted that by saying that NS&I's unclaimed assets are used for the community benefit anyway, but as a quid pro quo for not having its dormant assets liable for this type of activity should not NS&I at least invest much more activity in promoting the existence of arrangements for people to identify whether there are NS&I unclaimed assets to which they might be entitled?


Secondary information

Type
Proceeding contribution
Reference
480 c50 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Charities Assets Bank services Banks Building societies Finance Liability Investment Insolvency Young people Wills Big Lottery Fund Balance Charitable Foundation for Unclaimed Assets National Savings and Investments
Legislation
Dormant Bank and Building Society Accounts Bill (HL) 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk