(1) The Secretary of State or the Treasury may by regulations make provision for, and in connection with, extending the scope of the dormant assets scheme by -
(a) inserting an entry to the list in section 1(6) and making provision in Part 1 so as to provide for the operation of the scheme in relation to assets covered by the entry, or
(b) amending provisions of the 2008 Act or of Part 1 of this Act which describe the assets covered by an entry in that list (and, if considered appropriate, amending that entry).
(2) Provision made by virtue of subsection (1)(a), in relation to assets of any description, must include (in addition to the new entry in section 1(6)) provision -
(a) to the effect that transfer to an authorised reclaim fund of an amount owing to a person which is dormant results in -
(i) the extinguishment of any right the person has to payment of the amount owing, and
(ii) the person having a right against the reclaim fund to payment of an amount,
(b) identifying when an amo
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