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  1. Dormant Assets Act 2022 (c. 5)
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Version status: In force | Document consolidation status: No known changes
Published date: 24 February 2022

Dormant Assets Act 2022 (c. 5)

Consolidation Status: No known changes
Comparing proposed amendment...
Introductory Text
Part 1 The Dormant Assets Scheme (ss. 1-18)
Introduction (s. 1)
In force
 1. The dormant assets scheme: overview
Long-term insurance assets (ss. 2-4)
In force
 2. Transfer of eligible insurance proceeds to reclaim fund
In force
 3. "Eligible insurance proceeds"
In force
 4. Meaning of "dormant" in relation to eligible insurance proceeds
Pension assets (ss. 5-7)
In force
 5. Transfer of eligible pension benefits to reclaim fund
In force
 6. "Eligible pension benefits"
In force
 7. Meaning of "dormant" in relation to eligible pension benefits
Investment assets (ss. 8-11)
In force
 8. Transfer of eligible amount owing by virtue of a collective scheme investment to reclaim fund
In force
 9. "Eligible amount owing by virtue of a collective scheme investment"
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 10. Meaning of "dormant" in relation to eligible amount owing by virtue of a collective scheme investment
In force
 11. Meaning of "reclaim amount" in relation to an eligible amount owing by virtue of a collective scheme investment
Client money assets (ss. 12-13)
In force
 12. Transfer of eligible client money to reclaim fund
In force
 13. Meaning of "dormant" in relation to eligible client money
Securities assets (ss. 14-16)
In force
 14. Transfer of eligible proceeds or distribution to reclaim fund
In force
 15. "Eligible proceeds or distribution"
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 16. Meaning of "dormant" in relation to eligible proceeds or distribution
Miscellaneous provisions relating to transfers (s. 17)
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 17. Transfers: general
Interpretation of Part 1 (s. 18)
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 18. Interpretation of Part 1
Part 2 Other Provisions (ss. 19-30)
Regulation-making powers (s. 19)
In force
 19. Power to extend the dormant assets scheme to cover new dormant assets
Alternative scheme for smaller banks and building societies (s. 20)
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 20. Return of surplus alternative scheme assets
Unwanted assets consisting of a right to payment (s. 21)
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 21. Unwanted assets
Provisions applicable to more than one scheme (ss. 22-25)
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 22. Third party rights and interests
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 23. Arrangements between reclaim fund and institutions
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 24. Effect of insolvency etc of institutions
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 25. Disclosure of information
Provisions relating to more than one scheme (ss. 26-28)
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 26. Meaning of "authorised reclaim fund"
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 27. Treasury loans
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 28. Exclusion of repayment claims from financial services compensation scheme
Distribution of dormant assets money (ss. 29-30)
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 29. Distribution of dormant assets money for meeting English expenditure
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 30. Periodic review and report to Parliament
Part 3 Final provisions (ss. 31-34)
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 31. Regulations: general
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 32. Repeals in the 2008 Act and other minor or consequential amendments
In force
 33. Index of defined terms
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 34. Extent, commencement, construction as one with 2008 Act and citation
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 Schedule 1 Minor and Consequential Amendments
In force
 Schedule 2 Index of Defined Expressions
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