Dáil Éireann debate -
Tuesday, 27 Jun 2000

Vol. 522 No. 2

Written Answers. - Dormant Bank Accounts.

Ivor Callely

Question:

175 Mr. Callely asked the Minister for Finance the progress with regard to the consultation process in order to achieve broad agreement on a scheme to deal with dormant bank accounts; and if he will make a statement on the matter. [17895/00]

Minister for Finance (Mr. McCreevy)

As I indicated in response to a previous question put down by the Deputy on 23 May last, the Government at its meeting on 11 April 2000 approved my proposals to engage in consultations with the financial services industry in relation to the dormant accounts issue and in this regard the following bodies have been consulted:

Irish Bankers' Federation (IBF);

Irish Insurance Federation (IIF);

Irish Mortgage and Savings Association

(IMSA);

Irish Association of Investment Managers

(IAIM);

Financial Services Industry Association

(FSIA);

An Post;

NTMA and

the Central Bank.

These consultations have now concluded and my officials have presented a report of their findings to me. The position now is that following consultation with relevant Departments a memorandum for Government together with the draft heads of a Bill will be submitted to Government for approval. I hope a Bill can be published before the end of this year.