Dáil Éireann Debate, Tuesday - 7 October 2014
559. Deputy Maureen O'Sullivan asked the Minister for the Environment, Community and Local Government if he will arrange for an allocation to be made from the Dormant Account Fund to meet the initial cost of Irish membership of the European Southern Observatory, in view of the case made for Irish membership of the ESO by bodies (details supplied); and if he will make a statement on the matter. [38131/14]
Amharc ar fhreagraThe Dormant Accounts Act 2001, together with the Unclaimed Life Assurance Policies Act 2003 and the Dormant Accounts (Amendment) Acts 2005-2012, provide a framework for the administration of unclaimed accounts in credit institutions (i.e. banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.
The legislation introduced a scheme for the disbursement of funds that are unlikely to be reclaimed but only for the purposes of programmes or projects to assist:
1. the personal and social development of persons who are economically or socially disadvantaged;
2. the educational development of persons who are educationally disadvantaged; or
3. persons with a disability.
It would not be appropriate for an allocation to be made from the Dormant Accounts Fund to meet the initial cost of Irish membership of the European Southern Observatory.
