Dormant Assets Bill [HL]
Debate between Lord Faulkner of Worcester and Lord Bassam of BrightonMonday 21st June 2021
(3 years, 5 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.