Dáil Éireann Debate, Wednesday - 25 September 2013
133. Deputy Charlie McConalogue asked the Minister for the Environment, Community and Local Government the position regarding the new distribution scheme designed to replace the dormant accounts fund; and if he will make a statement on the matter. [39880/13]
Amharc ar fhreagraUnder 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. The primary purpose of the legislation is to re-unite 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 Disbursement Plan of 2009, put in place by the Dormant Accounts Board, will be replaced later in 2013 by a new disbursement scheme in accordance with the Dormant Accounts (Amendment) Act 2012. My Department is consulting with relevant Government Departments and other stakeholders as appropriate in relation to drafting the disbursement scheme. The new scheme will be submitted to Government for approval and, in accordance with the 2012 Act, laid before the Houses of the Oireachtas.
The 2012 Amendment also provides for the preparation of an action plan. The plan, which will also be subject to consultation, must indicate the programmes or types of projects that may apply for disbursement and the maximum funds available. Different amounts may be specified in the plan in relation to a particular class or classes of programme or project. Once the plan is adopted, a copy must also be laid before each House of the Oireachtas.
