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Dormant Assets Act 2022 (c. 5)Introductory TextPart 1 The Dormant Assets Scheme (ss. 1-18)Introduction (s. 1)1. The dormant assets scheme: overviewLong-term insurance assets (ss. 2-4)2. Transfer of eligible insurance proceeds to reclaim fund3. "Eligible insurance proceeds"4. Meaning of "dormant" in relation to eligible insurance proceedsPension assets (ss. 5-7)5. Transfer of eligible pension benefits to reclaim fund6. "Eligible pension benefits"7. Meaning of "dormant" in relation to eligible pension benefitsInvestment assets (ss. 8-11)8. Transfer of eligible amount owing by virtue of a collective scheme investment to reclaim fund9. "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 investment11. Meaning of "reclaim amount" in relation to an eligible amount owing by virtue of a collective scheme investmentClient money assets (ss. 12-13)12. Transfer of eligible client money to reclaim fund13. Meaning of "dormant" in relation to eligible client moneySecurities assets (ss. 14-16)14. Transfer of eligible proceeds or distribution to reclaim fund15. "Eligible proceeds or distribution"16. Meaning of "dormant" in relation to eligible proceeds or distributionMiscellaneous provisions relating to transfers (s. 17)17. Transfers: generalInterpretation of Part 1 (s. 18)18. Interpretation of Part 1Part 2 Other Provisions (ss. 19-30)Regulation-making powers (s. 19)19. Power to extend the dormant assets scheme to cover new dormant assetsAlternative scheme for smaller banks and building societies (s. 20)20. Return of surplus alternative scheme assetsUnwanted assets consisting of a right to payment (s. 21)21. Unwanted assetsProvisions applicable to more than one scheme (ss. 22-25)22. Third party rights and interests23. Arrangements between reclaim fund and institutions24. Effect of insolvency etc of institutions25. Disclosure of informationProvisions relating to more than one scheme (ss. 26-28)26. Meaning of "authorised reclaim fund"27. Treasury loans28. Exclusion of repayment claims from financial services compensation schemeDistribution of dormant assets money (ss. 29-30)29. Distribution of dormant assets money for meeting English expenditure30. Periodic review and report to ParliamentPart 3 Final provisions (ss. 31-34)31. Regulations: general32. Repeals in the 2008 Act and other minor or consequential amendments33. Index of defined terms34. Extent, commencement, construction as one with 2008 Act and citationSchedule 1 Minor and Consequential AmendmentsSchedule 2 Index of Defined Expressions
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Version status: In force | Document consolidation status: No known changes
Version date: 6 June 2022 - onwards
Version 2 of 2

33. Index of defined terms

Schedule 2 sets out expressions defined or explained by this Act for the purposes of more than one section.

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