Dormant Assets Act 2022 (c. 5)

PART 3 Final provisions

31 Regulations: general

(1) Regulations under this Act are to be made by statutory instrument.

(2) The power to make regulations under this Act includes power—

(a) to make different provision for different purposes;

(b) to make incidental, supplemental, consequential, saving or transitional provision.

(3) The provision which may be made under subsection (2)(b) includes provision modifying primary legislation.

(4) In subsection (3)—

• “modify” includes amend, repeal or revoke;

• “primary legislation” means—

  (a)

  an Act of Parliament,

  (b)

  an Act of the Scottish Parliament,

  (c)

  an Act or Measure of Senedd Cymru, or

  (d)

  Northern Ireland legislation.

(5) Where regulations under this Act are subject to draft affirmative procedure, the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament.

(6) This section does not apply to commencement regulations under section 34.

32 Repeals in the 2008 Act and other minor or consequential amendments

(1) The following provisions of the 2008 Act are repealed—

• section 11 (customer’s rights preserved on insolvency etc of bank or building society);

• section 12 (disclosure of information);

• section 14 (review and report to Parliament).

(2) The repeal of section 11 does not affect its continued operation in relation to a right to payment acquired by virtue of section 1(2)(b) or 2(2)(b) of the 2008 Act before the repeal comes into force.

(3) Schedule 1 contains minor and consequential amendments.

33 Index of defined terms

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

34 Extent, commencement, construction as one with 2008 Act and citation

(1) This Act extends to England and Wales, Scotland and Northern Ireland.

(2) This section comes into force on the day on which this Act is passed.

(3) The other provisions of this Act come into force on such day as the Secretary of State may by regulations made by statutory instrument appoint.

(4) Regulations under subsection (3) may—

(a) appoint different days for different purposes;

(b) make transitional or saving provision in connection with the coming into force of any provision of this Act.

(5) This Act and the 2008 Act are to be construed as one.

(6) This Act may be cited as the Dormant Assets Act 2022.

(7) This Act and the 2008 Act may be cited together as the Dormant Assets Acts 2008 to 2022.