Jan 2008 - The Dormant Bank and Building Society Accounts Bill reaches the reporting stage in the House of Lords. The Bill, set to come into force in 2009, strongly encourages the reunification of assets before funds are transfered to the Central Reclaim Fund.  

Nov 2007 - Lord Newby referred to the work of Heirtrace in his speech in the House of Lords, encouraging the government to consider the maximum potential for reunification before transfer into the central reclaim fund.
 

Mar 2007 - Within the Budget, the government released a consultation paper outlining proposals to allow money in dormant bank & building society accounts to be reinvested in the community and suggested a legislative framework.

Jan 2007 - Treasury Select Committee established a wide-ranging inquiry to examine unclaimed asset in the financial system and the scope for extending the scheme to other unclaimed assets.

Dec 2006 - Within the Pre Budget report, the government announced that a consultation paper on a UK Unclaimed Assets Scheme would be released. A key feature of this was that organisations should undertake a comprehensive reunification exercise before any scheme is introduced.

Jul 2006 - Commission on Unclaimed Assets issued a consultation paper recommending the creation of a “Social Investment Bank” which would channel unclaimed assets to the social sector.

2006 - The banking industry established a steering group to work through issues arising from the introduction of an Unclaimed Assets Scheme.

Mar 2006 - Within the Budget, the government confirmed its support to establish an Unclaimed Assets Scheme which would enable money in dormant accounts to be reinvested in society.

Nov 2005 - Commission of Unclaimed Assets established to propose ways unclaimed assets can be used to fund social schemes, with the initial focus on retail accounts.

2005 - Conservative Party Manifesto – “will use unclaimed assets in bank and building society accounts to rebuild failed pension funds…”

2005 - Labour Party Manifesto – “We will work with the financial service industry to reunite assets or channel them into the community.

Mar 2004 - Within his Budget, Gordon Brown backed the banking sector in efforts to reunite dormant bank accounts.

1999 - Unclaimed Assets Register Set up