Member

In our House, the noble Lords, Lord Young of Cookham and Lord Blunkett, have campaigned extensively on this issue and can confirm that the obstacles that were created were never intended. Every Government Minister seems to accept that something must be done, but changing the Mental Capacity Act is incredibly complex because of concerns for precedence. Amendment 60 takes the tack of using this Bill to empower the FCA to provide cover for financial institutions holding these funds to release them, based on documents from registered medical practitioners confirming incapacity and from the families or guardians acknowledging their duties. The FCA would report to Parliament annually. It is a practical way to get the money where it needs to go, and none of this costs the Government a penny.