Dáil Éireann Debate, Wednesday - 12 June 2013
66. Deputy Brendan Smith asked the Minister for the Environment, Community and Local Government the net inflow of funds from dormant accounts in the years 2011, 2012 and to date in 2013; and if he will make a statement on the matter. [28055/13]
View answerUnder the Dormant Accounts legislation, balances on dormant accounts with banks, building societies and An Post and the net encashment value of certain life assurance policies are paid into the Dormant Accounts Fund, which is managed by the National Treasury Management Agency (NTMA). The primary purpose of the legislation is to reunite the original account holders with their moneys, including all interest due. In addition, the legislation also provides that disbursements from the fund may be made for charitable purposes or for purposes of community benefit.
The net inflows into the Dormant Accounts Fund for the years 2011, 2012 and to date in 2013 are €10.5m, €18.4m and €34.04m respectively. Further details of all inflows etc. can be found in tabular form on www.environ.ie. under the Dormant Accounts section of Community and Voluntary Supports.
