This Bill, which is the result of lengthy and intensive negotiations, represents a significant extension of the scheme established under the 2001 Act. The provisions of the Bill were finalised during the period when the dormant scheme began operating in the credit institutions, which provided great insight into how it might work in practice for the life assurance companies. The Minister has been reassured by the success of the scheme for dormant accounts. Its achievement to date in reuniting people with their money represents an important consumer protection measure. It is hoped that the benefit to policyholders will be as great as it has been to holders of dormant accounts. This Bill is innovative legislation which I commend to the House.