Dormant Assets Act 2022
Dormant Assets Act 2022 (2022 c. 5)
- Dormant Assets Act 2022 (2022 c. 5)
- PART 1 The dormant assets scheme
- Introduction
- 1 The dormant assets scheme: overview
- Long-term insurance assets
- 2 Transfer of eligible insurance proceeds to reclaim fund
- 3 “Eligible insurance proceeds”
- 4 Meaning of “dormant” in relation to eligible insurance proceeds
- Pension assets
- 5 Transfer of eligible pension benefits to reclaim fund
- 6 “Eligible pension benefits”
- 7 Meaning of “dormant” in relation to eligible pension benefits
- Investment assets
- 8 Transfer of eligible amount owing by virtue of a collective scheme investment to reclaim fund
- 9 “Eligible amount owing by virtue of a collective scheme investment”
- 10 Meaning of “dormant” in relation to eligible amount owing by virtue of a collective scheme investment
- 11 Meaning of “reclaim amount” in relation to an eligible amount owing by virtue of a collective scheme investment
- Client money assets
- 12 Transfer of eligible client money to reclaim fund
- 13 Meaning of “dormant” in relation to eligible client money
- Securities assets
- 14 Transfer of eligible proceeds or distribution to reclaim fund
- 15 “Eligible proceeds or distribution”
- 16 Meaning of “dormant” in relation to eligible proceeds or distribution
- Miscellaneous provisions relating to transfers
- 17 Transfers: general
- Interpretation of Part 1
- 18 Interpretation of Part 1
- PART 2 Other provisions
- Regulation-making powers
- 19 Power to extend the dormant assets scheme to cover new dormant assets
- Alternative scheme for smaller banks and building societies
- 20 Return of surplus alternative scheme assets
- Unwanted assets consisting of a right to payment
- 21 Unwanted assets
- Provisions applicable to more than one scheme
- 22 Third party rights and interests
- 23 Arrangements between reclaim fund and institutions
- 24 Effect of insolvency etc of institutions
- 25 Disclosure of information
- Provisions relating to more than one scheme
- 26 Meaning of “authorised reclaim fund”
- 27 Treasury loans
- 28 Exclusion of repayment claims from financial services compensation scheme
- Distribution of dormant assets money
- 29 Distribution of dormant assets money for meeting English expenditure
- 30 Periodic review and report to Parliament
- PART 3 Final provisions
- 31 Regulations: general
- 32 Repeals in the 2008 Act and other minor or consequential amendments
- 33 Index of defined terms
- 34 Extent, commencement, construction as one with 2008 Act and citation
- SCHEDULES
- SCHEDULE 1 Minor and consequential amendments
- Building Societies (Accounts and Related Provisions) Regulations 1998 (SI 1998/504)
- Financial Services and Markets Act 2000 (c. 8)
- Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544)
- Open-Ended Investment Companies Regulations 2001 (SI 2001/1228)
- Dormant Bank and Building Society Accounts Act 2008 (c. 31)
- Banking Act 2009 (Parts 2 and 3 Consequential Amendments) Order 2009 (SI 2009/317)
- Distribution of Dormant Account Money (Apportionment) Order 2011 (SI 2011/1799)
- SCHEDULE 2 Index of defined expressions
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