Unclaimed Assets Within the Financial System

HC 533, Eleventh Report of Session 2006-07 Report, Together with Formal Minutes, Oral and Written Evidence

Author:
House of Commons Treasury Committee
Publisher:
TSO (The Stationery Office)
Unclaimed Assets Within the Financial System - Front
Price: £20.00
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Between 400-500 million is currently held in dormant bank and building society accounts in the UK where, for whatever reason, a financial institution has lost contact with an account holder. A large proportion of this money will never be reclaimed by its rightful owner. The Government, working with the banking industry, has therefore proposed the establishment of an unclaimed assets scheme to put these dormant accounts to productive use whilst continuing to recognise the ongoing rights of customers to reclaim their accounts at any stage.

'Unclaimed Assets Within the Financial System (HC 533)' examines:

  • the proposed legislative framework for the scheme and its regulation;

  • how to define and identify dormant accounts;

  • the scope of the scheme;

  • the proposed scheme to reunify customers with dormant accounts;

  • a centralised national register for unclaimed assets;

  • dormant accounts in building societies;

  • the distribution of funds released from unclaimed assets;

  • funding of a Social Investment Bank; and

  • local disbursement options.

Extent 179 pages ISBN 9780215035806
Size A4 Price £20.00
Format Paperback Published 06 Aug 2007
Availability Colour copy: 3 - 5 days Availability help (opens in new window) Delivery Delivery options and charges
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