Treasury - Eleventh Report
Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 24 July 2007.
CONTENTS
Terms of Reference
REPORT
1 INTRODUCTION
Conduct of our inquiry
2 BACKGROUND
What is a dormant account?
Existing schemes for reclaiming dormant bank
accounts
The Government's proposals
The Irish legislation
3 THE PROPOSED LEGISLATIVE
FRAMEWORK
The voluntary nature of the proposed scheme
The case for a compulsory scheme
Conclusions
Regulation of the scheme
Overview of proposed regulation
Regulating the interface between customers
and financial institutions
Regulation of the Central Reclaim Fund
Audit
Extinguishing liabilities from institutions'
balance sheets
4 DEFINING AND IDENTIFYING
DORMANT ACCOUNTS
The definition of dormancy
A fifteen-year term
What constitutes customer activity?
Scale of unclaimed assets available for use
5 SCOPE OF THE SCHEME
National Savings & Investments
Insurance
6 REUNIFYING CUSTOMERS WITH
DORMANT ACCOUNTS
The proposed reunification scheme
The timing of institutions' own activities
Advertising and press releases
Letter-writing
Third-party search agents
Conclusions
7 NATIONAL REGISTER OF UNCLAIMED
ASSETS
A centralised register
UK Lost and Found
Conclusions
8 BUILDING SOCIETIES
Demutualisation
9 DISBURSEMENT
The Government's proposals
A Social Investment Bank
The local disbursement option
CONCLUSIONS AND RECOMMENDATIONS
FORMAL MINUTES
WITNESSES
LIST OF WRITTEN EVIDENCE
LIST OF REPORTS FROM THE TREASURY COMMITTEE
DURING THE CURRENT PARLIAMENT
MINUTES OF EVIDENCE
WRITTEN EVIDENCE
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