Dormant Bank and Building Society Accounts Bill [HL] Bill 80 of 2007-08

This short Bill provides the legislative framework for an intended ‘dormant assets’ scheme. Dormant assets are those that have no clear owner; the owner has not used the account for some time and cannot be contacted. The Bill provides a mechanism by which assets so identified can be managed and distributed for defined social purposes. It also provides necessary legal protections for institutions participating in the scheme.