Dormant Bank and Building Society Accounts Bill [HL]

My Lords, I accept what the noble Lord says—that the Coventry Building Society has a strong local base and that you will not find a branch of it in London. That might be the case with other big building societies. Is the noble Lord saying that because London does not have a local building society, it has no local communities? I refer not just to London—it may be the case that other significant cities do not have building societies with his mutualisation philosophy. For the Government, the process of mutualisation and the existence of the institutions are not sufficient guarantees of fairness to the people and communities of the United Kingdom. That is why we added an additional mechanism to the one favoured by the noble Lord, Lord Shutt.