delete The Finance Act 2022, Schedule 6 (Dormant Assets) (Appointed Day) Regulations 2022
These Regulations appoint 6th June 2022 as the day on which Schedule 6 to the Finance Act 2022 (concerning dormant assets) comes into force. They are a commencement order that activates the substantive provisions of that Schedule.
Dormant asset schemes allow the state to seize and redistribute private property that has remained unclaimed for a specified period, rather than preserving it for rightful owners. This represents a regulatory taking of private property — the original owners or their heirs should be able to reclaim their assets without bureaucratic obstacles. Deleting this commencement order would prevent Schedule 6 from activating, leaving the dormant asset regime inactive and preserving private property rights.