§ Mr. Clifton-BrownTo ask the Chancellor of the Exchequer what plans he has to amend the Building Societies Acts to ensure that if the first named holder of a joint account dies the second named holder qualifies for any bonuses in the event of a takeover.
§ Mr. NelsonI am currently reviewing the Building Societies Act 1986. In my interim statement of 6 July, I said that stringent statutory controls on takeovers would be retained. The review is now focusing on societies' accountability and powers, but I am taking careful note of all the comments I have received about the position of joint account holders. I hope to announce the conclusion of the review soon.