asked the Minister for Justice if he will make a statement regarding unclaimed funds or dormant balances which are held by the Circuit Court, indicating what measures a county registrar takes to establish ownership; what use is made of the funds; and to whom interest, if any, is payable.
Ceisteanna—Questions Oral Answers. - Unclaimed Funds.
63.
In accordance with the Circuit Court Rules, 1954, each county registrar prepares, every three years, a list of accounts of the unclaimed funds or dormant balances held by him on behalf of the Circuit Court and he exhibits the list in his office. A copy of the list is also published in Irish Oifigiúil. The latest composite list of all such accounts was published in Iris Oifigiúil on 14th January, 1972.
The investment of the funds is under the direction of the judge. In practice those funds that do not already consist of investments are invested in Irish trustee securities, the interest or dividend-income from which is reinvested for the benefit of the particular account, and thus, ultimately, for the benefit of the owner in the event of ownership being established. As the matter is under the control and direction of the court, I am not in a position to say what steps may be taken in particular cases in the matter of tracing owners but, as I stated at the beginning, the rules of court provide for periodic publication of a complete list.