Dáil Éireann Debate, Tuesday - 19 June 2012
438 Deputy Maureen O’Sullivan asked the Minister for the Environment, Community and Local Government if he will report on the recommendations made to him by the Dormant Accounts Board in respect of possible amendments to the Dormant Accounts (Amendment) Bill and the future management of the Dormant Accounts Fund after the Board’s abolition; and if he will make a statement on the matter. [29217/12]
Amharc ar fhreagra439 Deputy Maureen O’Sullivan asked the Minister for the Environment, Community and Local Government if his attention has been drawn to a recommendation made by the Dormant Accounts Board to the Commission on Credit Unions, recommending that Credit Unions be brought under the Dormant Accounts regime; the extent to which this recommendation was discussed between his Department and the Commission on Credit Unions; and if he will make a statement on the matter. [29218/12]
Amharc ar fhreagra440 Deputy Maureen O’Sullivan asked the Minister for the Environment, Community and Local Government if he will publish the briefing he received on the recommendation made by the Dormant Accounts Board to the Commission on Credit Unions, recommending that Credit Unions be brought under the Dormant Accounts regime; his views on such a policy in view of opinion (details supplied) [29219/12]
Amharc ar fhreagraI propose to take Questions Nos. 438 to 440, inclusive, together.
The purpose of the Dormant Accounts (Amendment) Bill is to amend existing dormant accounts legislation by providing for the dissolution of the Dormant Accounts Board and to make appropriate arrangements for the transfer of the Board's functions to the Department of the Environment, Community and Local Government. The Bill, as presented, and without further amendment, will result in those changes. The objectives underpinning disbursements from the Dormant Accounts Fund will remain unchanged, namely to assist persons who are economically or socially disadvantaged, educationally disadvantaged or who have a disability. The intention has always been to ensure that there is a broad and balanced range of potential beneficiaries from dormant accounts disbursements. I believe that this should continue into the future.
Whilst applying the provisions of the dormant accounts legislation to credit union accounts, as recommended by the Dormant Accounts Board, would increase the amount available in the Fund, Government Departments and agencies still have to source monies for dormant accounts programmes and measures from their Exchequer allocations, in the same way as with any other funding programmes. As such, creating a potential new source of dormant accounts funding would serve little practical purpose at this time. In the circumstances, my Department has not discussed the Board's proposals with the Commission on Credit Unions. However, this is a matter I am prepared to keep under review, particularly in the context of any improvement to the budgetary situation.
In the interim, I have asked my Department to publish a copy of the briefing document on this matter on my Department's website, in the Dormant Accounts area folder, as I understand that, due to technical difficulties, the Board's own website is not operational.
