20 Return of surplus alternative scheme assets
Dormant Assets Act 2022 (2022 c 5) | Legislation

Alternative scheme for smaller banks and building societies

20  Return of surplus alternative scheme assets

After section 2 of the 2008 Act (transfer of balances to charities, with proportion to reclaim fund) insert—

“2A Return of surplus alternative scheme assets

(1)     This section applies where an authorised reclaim fund has determined that a proportion of its alternative scheme assets does not need to be retained for the purposes of achieving any of its objects other than the transfer of money to the body or bodies for the time being specified in section 16(1).

(2)     For the purposes of this section

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