asked the Minister for Finance if he will make a statement regarding the funds which have been used to date by the Government from the moneys made available under the Funds of Suitors Act, 1984; if he will indicate on an annual basis the manner in which the funds have been distributed; the purpose for which they have been used; and the funds which remain unspent at present.
Written Answers. - Funds of Suitors Act, 1984.
27.
The Funds of Suitors Act, 1984, empowers the Minister for Finance to distribute moneys standing in the dormant funds of suitors. The uses to which these moneys can be put are laid down by section 3 (2) of the Act as follows: (a) not more than £600,000 for projects in the areas of culture and the arts. Decisions on particular projects to be assisted are taken by the Taoiseach; (b) not more than £600,000 on renovation of the Kings Inns; (c) not more than £300,000 towards the cost of Culturlann na hÉireann at Monkstown, the property of Comhaltas Ceoltóirí Éireann; (d) not more than £100,000 towards the cost of the community, youth, recreational and employment programme administered by the Minister for Labour; (e) the balance of the cash standing in dormant funds of suitors to go towards the cost of a children's court in Dublin, the provision and maintenance of other court premises and the provision of civil legal aid. Decisions on the detailed distribution of moneys under this head are taken by the Minister for Justice.
Up to 21 October 1987 a total of £2,955,000 has been distributed in accordance with the provisions of the Act. The balance of the moneys available under the Act are held in Exchequer Bills which have a maturity value of £713,712.
The following is a tabular statement of the distribution of moneys to date in accordance with section 3 (2) of the Act.
|
Committed under Act |
Issued to date |
Balance |
|||||
|
(£000) |
(£000) |
||||||
|
(£000) |
1984 |
1985 |
1986 |
1987 |
Total |
||
|
Culture and the Arts |
600 |
100 |
100 |
75 |
100 |
375 |
225 |
|
Premises of the Kings Inns |
600 |
80 |
200 |
100 |
380 |
220 |
|
|
Comhaltas Ceoltóirí Éireann |
300 |
300 |
— |
— |
— |
300 |
— |
|
Community, Youth, Recreational and Employment Programme |
100 |
100 |
— |
— |
— |
100 |
— |
|
Children's Court |
Unspecified |
800 |
550 |
1,350 |
88Estimate¹ |
||
|
Legal Aid |
Unspecified |
65 |
195 |
190 |
450 |
— |
|
|
Other Court-Related projects |
Unspecified |
— |
— |
— |
— |
— |
180 |
|
Estimate² |
|||||||
|
580 |
165 |
1,270 |
940 |
2,955 |
713 |
Notes:
¹ This is based on the present estimated final cost of the contract of £1.438 million.
² This figure is a tentative estimate of the residue remaining after the other commitments have been met. It is a matter for the Minister for Justice under the Act to determine its actual distribution. The actual residue will depend on total final expenditure on individual projects, the rate of drawdown of that expenditure and prevailing rates of interest.