Dormant Assets Bill [HL]
Debate between Lord Faulkner of Worcester and Lord Bassam of BrightonMonday 21st June 2021
(2 years, 10 months ago)
Grand CommitteeRead Full debate Dormant Assets Act 2022 View all Dormant Assets Act 2022 Debates Read Hansard Text Read Debate Ministerial Extracts Amendment Paper: HL Bill 3-II(Rev) Revised second marshalled list for Grand Committee - (21 Jun 2021)
The Deputy Chairman of Committees (Lord Faulkner of Worcester) (Lab)
Lord Bassam of Brighton? I think he may have muted his equipment. Can he unmute?
Lord Bassam of Brighton (Lab) [V]
My Lords, I apologise. I apologise doubly for being late and for failing to unmute.
I missed the Minister’s explanation as she introduced this group, but a few points occur to me. There are some 20-plus issues tied up in these technical amendments and clarifications. That is a lot and, while I am very grateful for the text explaining them, there are some fairly substantial issues here. My attention was drawn to government Amendment 17, which applies a new clause in the case of a wound-up unit trust scheme or a terminated sub-fund of an umbrella unit trust scheme. It sounds awfully complex, actually; it may well be technical, but I do not fully understand exactly what lies behind the wording.