I propose to take Questions Nos. 562, 564 to 566, inclusive, 568, 569 and 573 together.
I refer to the reply to Question No. [530] and Question Nos [531-535] of 8 March, which outlines the position with regard to the review of the Dormant Accounts Disbursement Scheme 2013-2016.
These replies outlined that the Comptroller and Auditor General's report contained a single recommendation that the statutory review of the Disbursement Scheme should be carried out to identify how well the scheme was implemented and how future schemes can be designed to ensure the scheme objectives are met. The report also stated that the review should consider the reasons for the low level of disbursements, whether allocating funds to measures which do not fully use the resources prevent other programmes from being funded, and how the available funding can be best applied.
The replies also noted that following the transfer of the relevant functions to my Department in July 2017, my Department is now undertaking the statutory review, which will be completed by the end of June 2018. The key focus of the review is to addresses the points raised by the Comptroller and Auditor General and to ensure that the significant resources currently available from the fund are used in an efficient and effective manner. The review will also identify and consider wider and longer term issues, including how to best ensure the long term sustainability of the Dormant Accounts Fund, and public awareness of the Fund .
Where issues such as the accounting methods or accounting procedures are found to negatively impact on the administration and overall effectiveness of the fund, my Department will liaise with other relevant stakeholders, including the Department of Public Expenditure and Reform and the National Treasury Management Agency, to ensure that the impact of these issues can be mitigated.
However, it would not be appropriate, at this stage, to speculate on the possible conclusions of the review.