Is the Minister aware that considerable funds have lain dormant in the courts for more than 15 years. Exactly how much money is laying dormant in the courts? Although the names of parties are published in Iris Oifigiúil, not many people, including solicitors, read it. What efforts have been made by the Minister's Department to contact the people concerned as many of them were infant plaintiffs and may not have understood what was happening when the lodgments were made? In addition, they may not have been acquainted with the matter since then. It is not right that the State should take the funds which have lain dormant in the courts for the past 15 years into the Central Fund. I ask the Minister of State to assure the House that every effort will be made to trace the beneficiaries of those dormant funds before they are absorbed into the cen tral fund because the State has no right to these funds. If the people were granted those funds in their infant years, they would not have been aware that the funds were available for them. Therefore, I want an assurance from the Minister of State that, before those dormant funds are absorbed into State fund, every effort will be made by the Government to ensure the people, to whom those funds were allocated, or their relatives or next of kin are traced and that they are given those assets before it is too late.
Adjournment Debate. - Dormant Funds.
I am glad of the opportunity to respond to the Deputy's query and, in so doing, to clarify the scope of my Department's proposals for dealing with dormant funds in the financial sector.
When developing proposals for bringing forward a scheme for dealing with dormant funds in bank accounts and in matured but unclaimed life assurance policies, the Minister for Finance consulted with Cabinet colleagues who might have been affected by such a policy initiative. In that context, the Minister for Justice, Equality and Law Reform indicated to the Minister for Finance that he would not wish dormant funds in the Courts Service to be included in the scope of the provisions for the proposed dormant accounts Bill, as he intended to bring forward proposals of his own to deal with such funds. In the circumstances, it was decided not to address the issue of dormant courts funds in the dormant accounts Bill, which the Minister for Finance will introduce.
However, I am informed that the Courts Service division of the Department of Justice, Equality and Law Reform is actively considering this issue in some detail. When the level of funds involved has been established, which was one of the questions the Deputy raised, my colleague, the Minister for Justice, Equality and Law Reform will consider policy options for dealing with such funds.