Dormant Assets Act 2022

• (iii) for “of those banks and building societies” substitute “institution”;

• (c) in sub-paragraph (2)(a) at the end insert “above or section 2(2)(b), 5(2)(b) or (3)(b), 8(2)(b), 12(2)(b) or 14(2)(b) of the Dormant Assets Act 2022”;

• (d) in sub-paragraph (2) for paragraph (b) substitute—

(b) where a transfer of an amount to the reclaim fund was made as part of a business currently carried on by another institution (“the successor”), the transfer is to be treated as having been made by the successor.

Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (SI 2009/317)

17

In the Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009, omit article 7 (Dormant Bank and Building Society Accounts Act 2008).

Distribution of Dormant Account Money (Apportionment) Order 2011 (SI 2011/1799)

18

In article 2 of the Distribution of Dormant Account Money (Apportionment) Order 2011 (interpretation), for “dormant account money” substitute “dormant assets money”.

SCHEDULE 2

The dormant assets scheme: overview

Transfer of eligible insurance proceeds to reclaim fund

“Eligible insurance proceeds”

Meaning of “dormant” in relation to eligible insurance proceeds

Transfer of eligible pension benefits to reclaim fund

“Eligible pension benefits”

Meaning of “dormant” in relation to eligible pension benefits

Transfer of eligible amount owing by virtue of a collective scheme investment to reclaim fund

“Eligible amount owing by virtue of a collective scheme investment”

Meaning of “dormant” in relation to eligible amount owing by virtue of a collective scheme investment

Meaning of “reclaim amount” in relation to an eligible amount owing by virtue of a collective scheme investment

Transfer of eligible client money to reclaim fund

Meaning of “dormant” in relation to eligible client money

Transfer of eligible proceeds or distribution to reclaim fund

“Eligible proceeds or distribution”

Meaning of “dormant” in relation to eligible proceeds or distribution

Transfers: general

Interpretation of Part 1

Power to extend the dormant assets scheme to cover new dormant assets

Return of surplus alternative scheme assets

Unwanted assets

Third party rights and interests

Arrangements between reclaim fund and institutions

Effect of insolvency etc of institutions

Disclosure of information

Meaning of “authorised reclaim fund”

Treasury loans

Exclusion of repayment claims from financial services compensation scheme

Distribution of dormant assets money for meeting English expenditure

Periodic review and report to Parliament

Regulations: general

Repeals in the 2008 Act and other minor or consequential amendments

Index of defined terms

Extent, commencement, construction as one with 2008 Act and citation

Building Societies (Accounts and Related Provisions) Regulations 1998 (SI 1998/504)

Editorial notes

[^key-8d3c5946f1060c5ffb9550541db07c16]: S. 1 not in force at Royal Assent, see s. 34(3)

[^key-b6af1d8450e704abbc34c77e2d5e6fcf]: S. 2 not in force at Royal Assent, see s. 34(3)

[^key-1ab638742956bbef1d7896f219b77807]: S. 3 not in force at Royal Assent, see s. 34(3)

[^key-a1a8e014fc180b34ca5896a1a12fd9d4]: S. 4 not in force at Royal Assent, see s. 34(3)

[^key-2353ad8384678e5d9da446da652682a5]: S. 5 not in force at Royal Assent, see s. 34(3)

[^key-bfc713cd09af47de715ce21562731abc]: S. 6 not in force at Royal Assent, see s. 34(3)

[^key-a7bc8f44a7ea0c8db836b48634631146]: S. 7 not in force at Royal Assent, see s. 34(3)

[^key-9d6ab4c4ce12d934ad2ed7e9f779f226]: S. 8 not in force at Royal Assent, see s. 34(3)

[^key-4bd6e2ac044e0ae00571b8b15b2a743e]: S. 9 not in force at Royal Assent, see s. 34(3)

[^key-cc3f8f5e00b111832dd062aa752c42df]: S. 10 not in force at Royal Assent, see s. 34(3)

[^key-7c33ac03027bffd8696d9265af4a8ec5]: S. 11 not in force at Royal Assent, see s. 34(3)

[^key-23b214348cf6b5e1c10bfc4cec1102cf]: S. 12 not in force at Royal Assent, see s. 34(3)

[^key-eb5ec4ac30e9e6120c60dbdbd3f3e75e]: S. 13 not in force at Royal Assent, see s. 34(3)

[^key-2ffbe9d71c1ef067ac74fb022a2baaff]: S. 14 not in force at Royal Assent, see s. 34(3)

[^key-13b5cd26195598b79c38eea265fd3ac1]: S. 15 not in force at Royal Assent, see s. 34(3)

[^key-e8f7087e13189bc7dc329da1fcb4f76c]: S. 16 not in force at Royal Assent, see s. 34(3)

[^key-d3fe4c57595b0ddaf3f025709399f1c8]: S. 17 not in force at Royal Assent, see s. 34(3)

[^key-513842a52f3722831150679294166fa6]: S. 18 not in force at Royal Assent, see s. 34(3)

[^key-a7a551a0a07f17b9dab0a41fe29f88d2]: S. 19 not in force at Royal Assent, see s. 34(3)

[^key-4c9878d00d301dbda2393f29b78284ad]: S. 20 not in force at Royal Assent, see s. 34(3)

[^key-c12f168de5aa169084aff720284b3f2e]: S. 21 not in force at Royal Assent, see s. 34(3)

[^key-2c2c1236a2de02a929d662104b1f8620]: S. 22 not in force at Royal Assent, see s. 34(3)

[^key-9b47145a28357cda03e0741d2f136237]: S. 23 not in force at Royal Assent, see s. 34(3)

[^key-a7ae952182c54689af9b093f34a52439]: S. 24 not in force at Royal Assent, see s. 34(3)

[^key-1731475ca522ed24569672decc32a0e2]: S. 25 not in force at Royal Assent, see s. 34(3)

[^key-4d10dcfbeab19aa6ce7e77ba7815e3b3]: S. 26 not in force at Royal Assent, see s. 34(3)

[^key-8eb933c954522acc073558aed8d720d4]: S. 27 not in force at Royal Assent, see s. 34(3)

[^key-5e4b5a84345bb5f8453bf582969ea01a]: S. 28 not in force at Royal Assent, see s. 34(3)

[^key-653003a5737df6e0a45669fd36c6d109]: S. 29 not in force at Royal Assent, see s. 34(3)

[^key-0b61c1aacf1c69d297cb0bd07858889f]: S. 30 not in force at Royal Assent, see s. 34(3)

[^key-179834cdbb8761f551ed16c80ed164cd]: S. 31 not in force at Royal Assent, see s. 34(3)

[^key-e911065662ac1d0eaffb2aa8a2b0e18a]: S. 32 not in force at Royal Assent, see s. 34(3)

[^key-ee32f17b698d433885e9ad47fded0caa]: S. 33 not in force at Royal Assent, see s. 34(3)

[^key-ed270638068801a97845d9b33e7a5036]: S. 34 in force at Royal Assent, see s. 34(2)

[^key-494be7ddcde042151b45a2d4eaca5293]: Sch. 1 para. 1 not in force at Royal Assent, see s. 34(3)

[^key-06cc4008314e7b4ea8fb7cce258575f5]: Sch. 1 para. 2 not in force at Royal Assent, see s. 34(3)

[^key-bb7219f10f29d931dfcc6fafdbb967ba]: Sch. 1 para. 3 not in force at Royal Assent, see s. 34(3)

[^key-8772f14f6957d9a7996ad8234594ad29]: Sch. 1 para. 4 not in force at Royal Assent, see s. 34(3)

[^key-cb2e10e35db5da06bc942019fe900bef]: Sch. 1 para. 5 not in force at Royal Assent, see s. 34(3)

[^key-2b9973b7cbffe815627cc445645c44bf]: Sch. 1 para. 6 not in force at Royal Assent, see s. 34(3)

[^key-5e5556d1d816905dc3c7387d1ffd18ec]: Sch. 1 para. 7 not in force at Royal Assent, see s. 34(3)

[^key-e63592f5aab46a82f51da5f60187ddd9]: Sch. 1 para. 8 not in force at Royal Assent, see s. 34(3)

[^key-c816a601ee516f7e5c833ed9d2bb11e7]: Sch. 1 para. 9 not in force at Royal Assent, see s. 34(3)

[^key-e227fd0c5d6dfa52db13f063901e0e68]: Sch. 1 para. 10 not in force at Royal Assent, see s. 34(3)

[^key-a8142b3d92cf6a5d0f76dde5103202fe]: Sch. 1 para. 11 not in force at Royal Assent, see s. 34(3)

[^key-f56b07113465129d4b542ceeff9921d6]: Sch. 1 para. 12 not in force at Royal Assent, see s. 34(3)

[^key-43c5037eb2d81da1c9100f41c2123fdd]: Sch. 1 para. 13 not in force at Royal Assent, see s. 34(3)

[^key-3f55eeab37eba904849704206cc6a2e7]: Sch. 1 para. 14 not in force at Royal Assent, see s. 34(3)

[^key-5ddd6582ab15f1a7499843a69ac6b7e8]: Sch. 1 para. 15 not in force at Royal Assent, see s. 34(3)

[^key-4f67b1bb07cf3c0a1f05842dacd6acfe]: Sch. 1 para. 16 not in force at Royal Assent, see s. 34(3)

[^key-0855be855c37ac1c338e379f88c1daca]: Sch. 1 para. 17 not in force at Royal Assent, see s. 34(3)

[^key-25aeceb7af3e5ea68bc6e1181aba80b4]: Sch. 1 para. 18 not in force at Royal Assent, see s. 34(3)

[^key-b78d99a4d972296f4a036e057ec9162d]: Sch. 2 not in force at Royal Assent, see s. 34(3)

[^key-9552f9b690b712198bfc60ca4a3c86b4]: S. 2 applied (6.6.2022) by 1992 c. 12, s. 26A(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 1, 6; S.I. 2022/569, reg. 2)

[^key-74b29fa49f1b63d9fc69634c9f422fbe]: S. 5 applied (6.6.2022) by 1992 c. 12, s. 26A(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 1, 6; S.I. 2022/569, reg. 2)

[^key-e6d332e7ebb6217f52a878cebf6064a5]: S. 8 applied (6.6.2022) by 1992 c. 12, s. 26A(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 1, 6; S.I. 2022/569, reg. 2)

[^key-019e6429ec6c4d8dc797117e060430cb]: S. 12 applied (6.6.2022) by 1992 c. 12, s. 26A(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 1, 6; S.I. 2022/569, reg. 2)

[^key-9c8717db5ca4141ab50ab880e796031b]: S. 14 applied (6.6.2022) by 1992 c. 12, s. 26A(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 1, 6; S.I. 2022/569, reg. 2)

[^key-c5695de049554ba60bc379c53c623901]: S. 2 applied (6.6.2022) by 2008 c. 9, s. 39(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 2, 6; S.I. 2022/569, reg. 2)

[^key-465ca77fdac5c957847efe34cbfc58e3]: S. 5 applied (6.6.2022) by 2008 c. 9, s. 39(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 2, 6; S.I. 2022/569, reg. 2)

[^key-b78707890b92ca2823012ac2d5d80f47]: S. 8 applied (6.6.2022) by 2008 c. 9, s. 39(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 2, 6; S.I. 2022/569, reg. 2)

[^key-37dca222eebb9ac13648b038660984a8]: S. 12 applied (6.6.2022) by 2008 c. 9, s. 39(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 2, 6; S.I. 2022/569, reg. 2)

[^key-32451b6d5dda2fe653857cbdc16aebae]: S. 14 applied (6.6.2022) by 2008 c. 9, s. 39(2)(a) (as substituted by Finance Act 2022 (c. 3), Sch. 6 paras. 2, 6; S.I. 2022/569, reg. 2)

[^key-458e268f988e7b691c11ba09e5201c2d]: S. 1 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-39cdf89d24378304b946f3e34e5faa3e]: S. 2 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-332ea79c3f5f3b95ffbad8127c7dbbf8]: S. 3 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f1ed9e0d67ef9ce84d01fcb682bfd6dc]: S. 4 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-d26b67737bf823bebe9043d10d847302]: S. 5 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-876c2f193a2c0c8a1f5425aa618d5c29]: S. 6 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-7a15b863e9734f1844c95537519e8e1b]: S. 7 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-32ab2a3ed3dc0e1626ceb68be9de7821]: S. 8 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f5463d1a608985fdc632dcfcffe0c2d8]: S. 9 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-7b727fb431e782cd7e4264022fc2b817]: S. 10 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-d9b6306cddb75452eb4691ba4d4ce7f1]: S. 11 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-15547db7ea2e55a500cfd549683564d7]: S. 12 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-37ed50e08a648f080ac422a840e2a265]: S. 13 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f18c095d028b72d61cc1eb5c4bb257a6]: S. 14 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-6980dabd84a1f33f68f63c7f253e9c1c]: S. 15 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-3acc4f4ee200f2ebac86e267d05e536f]: S. 16 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-935ed3e1519c4b81d9d5e8f4643d98b2]: S. 17 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-668d163f0388e83c090a93d536e87a42]: S. 18 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-31ad83557189e97119bea86774ab4d25]: S. 19 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-091c98ca0ec154986d6ebbbdf80f042a]: S. 20 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f1c298d2c6f506e12f98033acb201cdf]: S. 21 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f9e239faf3e6ad295970d9a32634f4bb]: S. 22 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-891ae5f0089a52d4df49ab7ca08e400d]: S. 23 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-b699170cc4de7352406e69c0cbac2934]: S. 24 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-be864de32a91ac838008c09ff5fec967]: S. 25 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-73d8aa6433c20e508014ed25ccb6cf9f]: S. 26 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-64d6db1dccf464c868a41e08d6900537]: S. 27 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-4450ddbfe7cd5e2583fbd4a0b0e3dd2e]: S. 28 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-aeb944252a8cdea74cc5e328f8a77b68]: S. 29 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-0e4c1a92852d0268e3b5a5baf5436352]: S. 30 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-a3ec81aae11c45e9a86333b0c0120999]: S. 31 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f9e54c4999378bb77d8a3246f933548d]: S. 32 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-8673cd90492fbeff1516cc4386af9f09]: S. 33 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-c439ab32ba2d4a314e2a2172ceb68304]: Sch. 1 para. 1 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-6e84f4789727613f545b0ab79b95a13e]: Sch. 1 para. 2 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-59d14496fdb701dbfd524e37e9c1ace6]: Sch. 1 para. 3 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-01b00a561905464ce600d617726b9a92]: Sch. 1 para. 4 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-66b3328f51a087ad254d367701820577]: Sch. 1 para. 5 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-3cee7ea86ffaa055dd16e3c8234daa55]: Sch. 1 para. 6 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f83eabd79c3d1ac25f79d932e7c7cd2d]: Sch. 1 para. 7 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-5a0485fd4af64597a6c5e094aa994365]: Sch. 1 para. 8 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-2dd9dd79dc7b552239ae475a189bba73]: Sch. 1 para. 9 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-f3813de95ae468b8a6b99ce06c096a5c]: Sch. 1 para. 10 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-32d6ed63f5e06917ca6418e04f349cdd]: Sch. 1 para. 11 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-913469013192972a25858e487afe1f81]: Sch. 1 para. 12 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-78479b965829c5337cec5b16d0abed67]: Sch. 1 para. 13 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-2282a6aa264e59461e90dab13836b99b]: Sch. 1 para. 14 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-10520f2f1d5f8724b07f493d92645742]: Sch. 1 para. 15 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-048d3782cc39c4f150cc4fd27ef35200]: Sch. 1 para. 16 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-8d6064c564aa8f7394aa1a1f27b662d0]: Sch. 1 para. 17 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-1cf6a9c05878777d55762028a97a138f]: Sch. 1 para. 18 in force at 6.6.2022 by S.I. 2022/582, reg. 2

[^key-4f1dcddd9c0ccc12d4048fb63e5fe40d]: Sch. 2 in force at 6.6.2022 by S.I. 2022/582, reg. 2