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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

dormant account

    5251has the meaning given in section 10 of the Dormant Bank and Building Society Accounts Act 2008, which is in summary an account that at a particular point in time:

      1. (a) has been open throughout the period of 15 years ending at that time; and
      1. (b) during that period no transactions have been carried out in relation to the account by or on the instructions of the holder of the account.