Written Answers. - Dormant Accounts Fund.
522.
Ms B. Moynihan-Cronin asked the Minister for Community, Rural and Gaeltacht Affairs his proposals for the Dormant Accounts Fund; the current value of the fund; and if he will make a statement on the matter. [23017/03]
Minister of State at the Department of Community, Rural and Gaeltacht Affairs (Mr. N. Ahern): As the Deputy is aware, the Dormant Accounts Fund Disbursements Board is an independent statutory body, under the aegis of my Department, with responsibility for overseeing the disbursement of unclaimed moneys from the Dormant Accounts Fund.
As required by legislation, the board presented its disbursement plan for approval this summer and following a detailed consideration the plan was recently approved subject to a number of amendments.
I understand that the board is currently advancing its consideration of the practical arrangements necessary to enable commencement of the implementation of the plan.
The current value of the fund is in the order of €180 million. However, consistent with advice from the Department of Finance, the board has agreed that not more than €30 million will be disbursed annually.
Question No. 523 answered with Question No. 521.