Peter Mathews (Dublin South, Fine Gael) | Oireachtas source

The dormant accounts, as described in earlier sessions, relate to where there is no activity on behalf of the share member or account holder for 15 years. Once defined as such, it could be hoovered up under the legislation. Like the witness, I agree that these accounts are like an insurance or the same type of process of families having prize bonds. It is their money and just because a prize bond has not been looked at for 20 or 25 years does not mean the State can hoover it up and indicate there is no liability. I agree with that. The ownership of such a so-called dormant account is not in question as it is like a share. We can imagine what would happen if the State hoovered up all the share certificates and told people they did not own them any more.