UK Parliament / Open data

Dormant Bank and Building Society Accounts Bill [Lords]

Debate on bills on Monday, 3 November 2008, in the House of Commons, led by Ian Pearson. The answering member was Mark Hoban.
Dormant Bank and Building Society Accounts Bill (HL). Report stage. New clauses debated. Third reading debate. Agreed to on question. Bill passed with amendments.

About these Parliamentary proceedings

Reference

482 c23-91 

Session

2007-08

Department

Treasury

Legislative stage

Third reading and Report stage

Procedure

New clauses

Chamber / Committee

House of Commons chamber

Related items

Dormant Bank and Building Society Accounts Bill (HL). As amended in Public Bill Committee.
Thursday, 16 October 2008
Bills
House of Commons

Proceeding contributions

Mark Hoban | 482 c28-9 (Link to this contribution) The answer is that I do not know. We may have to have a review every three years until the end of ti...
Keith Vaz | 482 c29-30 (Link to this contribution) I did not have the pleasure of serving on the Committee, but judging from the speeches of my hon. Fr...

Show all contributions (123)
Jim Cunningham | 482 c28 (Link to this contribution) Surely common sense would dictate that if further reviews are needed they will be held. How many rev...
Ian Pearson | 482 c25-6 (Link to this contribution) I understand where my hon. Friend is coming from. As I said in my opening remarks, the review will c...
Jeremy Browne | 482 c30-1 (Link to this contribution) It feels like as though we are dancing on the head of a pin when there are rather more pressing matt...
Mark Hoban | 482 c32 (Link to this contribution) I had not realised how much discussion could be had about a single new clause until the hon. Member ...
Jeremy Browne | 482 c32 (Link to this contribution) This conversation is getting more and more arcane. I conceded in my opening remarks that although on...
Rob Marris | 482 c31-2 (Link to this contribution) I am grateful to the hon. Gentleman for his generosity in giving way. As he pointed out, this is a c...
Jeremy Browne | 482 c32 (Link to this contribution) That sums up our debate rather well. I hope that Members present do not feel that their time is not ...
Rob Marris | 482 c31 (Link to this contribution) Does the hon. Gentleman agree that the scope of new clause 3 is rather tighter than that of new clau...
Charles Walker | 482 c33-4 (Link to this contribution) I too served on the Committee, and it was an extremely enjoyable experience. The sittings were very ...
Martyn Jones | 482 c34 (Link to this contribution) I am sorry to interrupt my hon. Friend's flow, but, as he did not serve on the Committee, perhaps he...
Keith Vaz | 482 c36 (Link to this contribution) I am most grateful to the Minister, but I hope that he will not have consultants conducting the revi...
Ian Pearson | 482 c37 (Link to this contribution) My understanding is that the latter would obtain. There is also the issue of what would happen if mo...
Ian Pearson | 482 c37 (Link to this contribution) If the money has already been transferred to the reclaim fund, even in an insolvency situation, and ...
Keith Vaz | 482 c37 (Link to this contribution) The Minister said that the customer would be able to reclaim the money. Would they reclaim it from t...
Rob Marris | 482 c41 (Link to this contribution) The hon. Gentleman was referring to the hon. Members who were signatories to the new clause. The ame...
Keith Vaz | 482 c37 (Link to this contribution) Would the Minister prefer to write to me about this?
Ian Pearson | 482 c37 (Link to this contribution) Let me try to explain it first. If it is still unclear to my right hon. Friend, I will endeavour to ...
Jeremy Browne | 482 c43-4 (Link to this contribution) The hon. Gentleman makes a reasonable point about where the emphasis should lie. If the new clause d...
Jeremy Browne | 482 c41-3 (Link to this contribution) I do not know; there are so many wise Members in this House, of all different parties, that the list...
Rob Marris | 482 c43 (Link to this contribution) I am listening very closely to the hon. Gentleman; I understand his logic, but why does the new clau...
Speaker | 482 c23-4 (Link to this contribution) With this it will be convenient to discuss new clause 2— Report to Parliament— ‘(1) The Treasury sh...
Ian Pearson | 482 c23 (Link to this contribution) I beg to move, That the clause be read a Second time.
Ian Pearson | 482 c24-5 (Link to this contribution) We mean when the reclaim scheme itself is up and running. I think that it is right that there is a p...
Ian Pearson | 482 c25 (Link to this contribution) Before I sit down, I shall give way to the hon. Gentleman. He was not on the Committee, but I am sur...
Ian Pearson | 482 c77-8 (Link to this contribution) I very much appreciate the probing nature of the amendments tabled by the hon. Members for North Sou...
Tom Levitt | 482 c78 (Link to this contribution) I am happy with the model that my hon. Friend has just described, but it seems to suggest that a lot...
Ian Pearson | 482 c78 (Link to this contribution) It is one matter to decide how much money goes from banks and building societies into the reclaim fu...
Mark Hoban | 482 c72-4 (Link to this contribution) I shall start by saying a few words about the amendments tabled by the hon. Member for North Southwa...
Ian Pearson | 482 c81-2 (Link to this contribution) If I may, I shall say more about that when I turn to the next amendment, because it is probably more...
Simon Hughes | 482 c82 (Link to this contribution) Colleagues can be released, and the dogs can be taken off; hon. Members can have an early evening an...
Simon Hughes | 482 c79-80 (Link to this contribution) I should like to clarify two points. First, will the Minister confirm that, if the legislation is pa...
Ian Pearson | 482 c80-1 (Link to this contribution) The Government's clear policy intention has always been that youth spending in England should be the...
Ian Pearson | 482 c80 (Link to this contribution) I agree strongly with the latter point. On the former, obviously the BLF has to operate within the l...
Speaker | 482 c86 (Link to this contribution) Order. Time has allowed me to be indulgent, but I should remind the House that on Third Reading we s...
Ian Pearson | 482 c84-5 (Link to this contribution) I beg to move, That the Bill be now read the Third time. We have had an interesting debate on Repor...
Mark Hoban | 482 c85-6 (Link to this contribution) The Minister rightly said that we dealt with the debate on Report as we did with the debates in Comm...
Simon Hughes | 482 c84 (Link to this contribution) Again, the Minister has been helpful; the phrase that I take from his response is ““the middle of ne...
Ian Pearson | 482 c84 (Link to this contribution) What I would wish to happen is that during the course of the financial year 2009-2010 we have not on...
Simon Hughes | 482 c84 (Link to this contribution) I am grateful to the Minister for his reply. I shall come for my meeting with his colleagues with a ...
Simon Hughes | 482 c90-1 (Link to this contribution) My point is absolutely about the Bill's content, if you will bear with me, Madam Deputy Speaker. The...
Simon Hughes | 482 c90 (Link to this contribution) Absolutely not. My specific point, which is central to the Bill, is to do with our having a bad yea...
Speaker | 482 c90 (Link to this contribution) Order. I understand the seriousness of the hon. Gentleman's point, but I ask him to confine his rema...
Simon Hughes | 482 c89-90 (Link to this contribution) The Bill is clearly a good measure, supported by all parties and improved during its passage through...
Charles Walker | 482 c89 (Link to this contribution) I would like to say how much I enjoyed serving on the Committee that considered the Bill. I spoke on...
Charles Walker | 482 c44-5 (Link to this contribution) If I have any concern about the Bill, this is one of the areas that I am most concerned about. We re...
Ian Pearson | 482 c48-9 (Link to this contribution) New clause 1 proposes giving the Government a power to establish a central register and to put in pl...
Mark Hoban | 482 c47-8 (Link to this contribution) New clause 1 clearly shows that there has been some movement on the issue since we debated it in Com...
Ian Pearson | 482 c49-50 (Link to this contribution) I heard the hon. Gentleman make that suggestion in his contribution, and if he feels that strongly a...
Charles Walker | 482 c49 (Link to this contribution) I know that this issue was gone over in Committee and in another place, but is the Minister aware th...
Rob Marris | 482 c52 (Link to this contribution) In his opening remarks, the hon. Gentleman said that there were compulsory registers in Ireland and ...
Rob Marris | 482 c57-8 (Link to this contribution) Let me reverse the position of amendment No. 10 for a moment. If clause 5(4) were not in the Bill—pr...
Mark Hoban | 482 c55-7 (Link to this contribution) Two of the amendments in this group relate principally to the operation of the reclaim fund. In rela...
Mark Hoban | 482 c55 (Link to this contribution) I beg to move amendment No. 10, page 4, line 42, leave out subsection (4).
Mark Hoban | 482 c58 (Link to this contribution) If it were that simple, the Minister would have said that in Committee, but let me quote what he did...
Rob Marris | 482 c58 (Link to this contribution) I am grateful to the hon. Gentleman for that helpful intervention, but taken as a whole—I name no in...
Jeremy Browne | 482 c60-1 (Link to this contribution) Absolutely. We are not making a moral judgment about the names on the list, although others may seek...
Mark Hoban | 482 c60 (Link to this contribution) Let me clarify the proposal for the benefit of the hon. Gentleman and my hon. Friend the Member for ...
Jeremy Browne | 482 c60 (Link to this contribution) Unless I have misunderstood it, the amendment proposes the publication of a list of banks and buildi...
Charles Walker | 482 c62 (Link to this contribution) I thank the Economic Secretary for the reassurances he gave me a few moments ago. Will it be for the...
Ian Pearson | 482 c61-2 (Link to this contribution) Clause 5(4) contains a direction-making power as an ultimate safeguard allowing the Treasury to take...
Ian Pearson | 482 c63-4 (Link to this contribution) It is my understanding that the normal parliamentary use of the word ““sanction”” is such that it ca...
Ian Pearson | 482 c62 (Link to this contribution) That will essentially be a matter for the company, because it is a private company. I imagine that d...
Mark Hoban | 482 c26-8 (Link to this contribution) I am grateful to the Minister for tabling new clause 3, which reflects the commitment that he gave i...
Jim Cunningham | 482 c28 (Link to this contribution) Surely common sense would dictate that if further reviews were necessary in the light of new informa...
Nick Hurd | 482 c25 (Link to this contribution) I thank the Minister both for giving way and for indulging me, as someone who was not on the Committ...
Ian Pearson | 482 c25 (Link to this contribution) There are some differences between new clause 3 and new clause 2. I thought it right to let the hon....
Tom Levitt | 482 c25 (Link to this contribution) My hon. Friend said that the review would be comprehensive, and he has also said that its recommenda...
Tom Levitt | 482 c32-3 (Link to this contribution) It is a pleasure to follow the hon. Member for Taunton (Mr. Browne), from whom I learned—I had not r...
Jeremy Browne | 482 c32 (Link to this contribution) I do not anticipate the Conservatives pressing new clause 2 to a Division. On the basis that it cont...
Jeremy Browne | 482 c31 (Link to this contribution) I agree. New clause 3 is better worded; it might have been drawn up over a weekend, but new clause 2...
Rob Marris | 482 c34 (Link to this contribution) I shall cover three points: Treasury discretion, factors covered by any review, and those consulted....
Rob Marris | 482 c34 (Link to this contribution) I stand corrected on the nuances—the measure would not take people's money for evermore. However, it...
Ian Pearson | 482 c35 (Link to this contribution) We have had an interesting debate, which shows that there is not a great deal of difference about su...
Mark Hoban | 482 c35 (Link to this contribution) May I draw the Economic Secretary's attention to a parallel? The Financial Services and Markets Act ...
Ian Pearson | 482 c35-6 (Link to this contribution) Let me assure the House that we would commit to keeping the issue very much on the Government's agen...
Ian Pearson | 482 c36 (Link to this contribution) I take my right hon. Friend's point. My point is that there will be extensive involvement and consul...
Mark Hoban | 482 c36 (Link to this contribution) The right hon. Member for Leicester, East (Keith Vaz) raised an important issue. Is the Minister say...
Jeremy Browne | 482 c41 (Link to this contribution) I beg to move, That the clause be read a Second time. As the Bill has commanded cross-party support...
Tom Levitt | 482 c24 (Link to this contribution) I am very relieved to hear my hon. Friend say that the review will take place within three years of ...
Ian Pearson | 482 c24 (Link to this contribution) When we discussed the matter before us in Committee, a strong view was expressed that the Government...
Simon Hughes | 482 c78-9 (Link to this contribution) That is helpful. Certainty over a two, three or four-year period is obviously better than not knowin...
Simon Hughes | 482 c68 (Link to this contribution) I beg to move amendment No. 8, page 9, line 17, after 'State', insert"'no later than 1st March in th...
Speaker | 482 c68-9 (Link to this contribution) With this it will be convenient to discuss the following amendments: No. 5, in [Clause 17], page 9, ...
Simon Hughes | 482 c69-72 (Link to this contribution) All the amendments in this group are in my name, except for amendments Nos. 13, 14 and 15 which were...
Jeremy Browne | 482 c74-6 (Link to this contribution) I rise briefly to echo a few of the themes that have already been touched on, and to ask the Ministe...
Simon Hughes | 482 c82-3 (Link to this contribution) I beg to move amendment No. 9, page 14, line 36, leave out subsections (1) and (2) and insert— If t...
Ian Pearson | 482 c83 (Link to this contribution) Yes, I do want to get on with things as quickly as possible, and I share the hon. Gentleman's enthus...
Ian Pearson | 482 c79 (Link to this contribution) We would always seek to act in as good time as we could in such matters. Amendment No. 5 seeks to c...
Simon Hughes | 482 c81 (Link to this contribution) Assuming that the Bill receives its Third Reading tonight and, as we all hope, a speedy Royal Assent...
Simon Hughes | 482 c80 (Link to this contribution) I understand why the Minister has been very, very careful on that amendment, in which I sought to pu...
Mark Hoban | 482 c87 (Link to this contribution) I am grateful for that guidance, Mr. Deputy Speaker. You will understand from the exchange that I ha...
David Leslie Taylor | 482 c86 (Link to this contribution) Does the hon. Gentleman recall my intervening on him on 6 October, when the Bill was previously deba...
Mark Hoban | 482 c86 (Link to this contribution) The hon. Gentleman raises two points. I looked back at the Hansard report of the Second Reading deba...
Simon Hughes | 482 c90 (Link to this contribution) I was trying to steer close to the sort of thing that you would accept on Third Reading, Madam Deput...
Speaker | 482 c90 (Link to this contribution) Order. I understand the hon. Gentleman's general point, but he must now confine his remarks to the B...
Jeremy Browne | 482 c88-9 (Link to this contribution) Most legislation takes several months to pass through all the stages in both Houses, and in the time...
Rob Marris | 482 c45-6 (Link to this contribution) I support the concept of a register for some of the reasons set out. We could be doing many things t...
Rob Marris | 482 c46-7 (Link to this contribution) My hon. Friend has an accountancy background, not a legal background, but he is absolutely right to ...
David Leslie Taylor | 482 c46 (Link to this contribution) I am grateful to my hon. Friend for imparting his professional knowledge to the House. Could he go a...
Jeremy Browne | 482 c51 (Link to this contribution) I wish to follow up on a few points from our short debate on new clause 1. The hon. Member for Wolv...
Ian Pearson | 482 c50-1 (Link to this contribution) The hon. Gentleman has just walked in; if he sits down and is patient, I might give way to him in a ...
Jeremy Browne | 482 c52 (Link to this contribution) No, because I do not have that information available. Ireland, for example, has a far smaller popula...
Jeremy Browne | 482 c52 (Link to this contribution) That is an interesting alternative suggestion. Although it is not contained in the new clause, I ima...
Speaker | 482 c55 (Link to this contribution) With this it will be convenient to discuss the following amendments: No. 12, page 5, line 1, at end ...
Charles Walker | 482 c58-9 (Link to this contribution) This is an interesting set of amendments. When the Bill becomes an Act, it will result in the establ...
Charles Walker | 482 c60 (Link to this contribution) In essence, what my hon. Friend the Member for Fareham (Mr. Hoban) is rightly demanding is a factual...
Jeremy Browne | 482 c60 (Link to this contribution) That is a helpful clarification. It would obviously be much easier for a member of the public to ide...
Jeremy Browne | 482 c59-60 (Link to this contribution) I rise to say briefly that I agree with the hon. Members for Broxbourne (Mr. Walker) and for Fareham...
Ian Pearson | 482 c62 (Link to this contribution) I understand my hon. Friend's point, but let me explain what we are doing. We are setting up a recla...
Rob Marris | 482 c62 (Link to this contribution) In my experience, we in this Chamber do not generally pass provisions in Bills that simply say, ““Th...
Speaker | 482 c65 (Link to this contribution) I ask the Serjeant at Arms to investigate the delay in the Aye Lobby.
Mark Hoban | 482 c64-5 (Link to this contribution) May I deal with some of the comments that the Minister made? Amendment No. 11 proposes the publicati...
Rob Marris | 482 c63 (Link to this contribution) My hon. Friend refers to clause 5(4) as being the ultimate sanction, but the provision itself simply...
Mark Hoban | 482 c28 (Link to this contribution) I would rather have the comfort of knowing that the Government were obliged to have another review, ...
Martyn Jones | 482 c87-8 (Link to this contribution) I congratulate the Minister on the passage of the Bill and on the addition on Report of a review pro...
Charles Walker | 482 c51 (Link to this contribution) Does the hon. Gentleman accept that a register may well be complicated, and that if the Government d...
Tom Levitt | 482 c77 (Link to this contribution) I planned to intervene on my hon. Friend the Minister when he responded on this group of amendments,...
Martyn Jones | 482 c44 (Link to this contribution) I shall not detain the House for long, but I wanted to point out why I put my name to the new clause...
Charles Walker | 482 c60 (Link to this contribution) It is quite simple: a list of participants should be published, and if the name of a building societ...

Subjects

Disclosure of information
Devolved matters
Charities
Assets
Bank services
Banks
Building societies
Finance
Insolvency
Financial Services Authority
Personal savings
Northern Ireland
Scotland
Registration
Voluntary organisations
Young people
Regulation
Wales
Youth services
Big Lottery Fund

Legislation

Dormant Bank and Building Society Accounts Bill (HL) 2007-08

Contains statistics

Yes

Link

View this Parliamentary proceeding on www.publications.parliament.uk
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