Dáil debates

Thursday, 5 July 2012

Dormant Accounts (Amendment) Bill 2011 [Seanad]: Report and Final Stages

 

2:00 pm

Photo of Jan O'SullivanJan O'Sullivan (Limerick City, Labour)

I again make the point that the role of the board is sometimes believed to be larger than it is. Following the Dormant Accounts (Amendment) Act 2005, there has in fact been very little involvement of the board in the approval process. Its main role is to do with drawing up the three-year plan and preparing an annual report. In terms of the actual disbursement, the board has had a very small role since 2005.

The Bill actually strengthens the Government's and the Oireachtas's oversight of the area. Under the proposed new arrangements, disbursement schemes and action plans must be prepared in consultation with relevant Government colleagues and must be laid before the Houses of the Oireachtas for a period of 21 days, which will allow for debate and discussion. Before the legislation was amended in 2005, when more money was available, the role of the board was probably more hands-on but it had a small role in terms of disbursement. I reiterate that there is now a role for the Oireachtas in examining the proposals in the plan and discussing it. As Members know, the Minister can be called before Oireachtas committees to account for this as well as for other functions he holds.

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