55.This section sets out the meaning of the term “balance”. This definition is relevant to understanding the amount of money which must be transferred to a reclaim fund and the amount which a customer is entitled to reclaim, under sections 1 and 2. It ensures that a customer is entitled to payment of their original deposit plus interest due in accordance with the terms of the original contract (less any charges which would have been deducted).
Commentary on Sections and Schedules Part 1: Transfer of balances in dormant accounts Section 8: “Balance”