Oireachtas Joint and Select Committees
Wednesday, 6 March 2019
Joint Oireachtas Committee on Rural and Community Development
Banking Legislation: Discussion
Mr. Kenneth Jordan:
As we said in our opening statement, the issues arise from the legal regulation of property. I could not express the view of the Department, and what I would offer are opinions rather than anything else.
We are responsible for the Dormant Accounts Acts and as the Deputy noted, on average there is an annual inflow of €50 million and an average outflow of €25 million. There is a net gain. Since the Dormant Account Fund has been set up, some €380 million has been reclaimed since 2000. The amounts of money reclaimed are significant.
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