Ms Helen Martin:

The fund came about as a result of the 1961 Act. It was set up in the 1980s or 1990s by the then Commissioners of Charitable Bequests and Donations for Ireland. It was set up as a means, particularly for smaller charities, to be able to invest funds and earn a return on those. It was closed, however, by the time we took it over, and before the Charities Regulator came into being. There are no new members in that fund now. We did a review on what we should do with the fund, such as whether we should wind it up, and different options were considered. The preliminary view was that we would maintain it for the moment. We are doing a number of exercises around it. It is quite an old fund and there is a lot of administrative work to be done around it such as data cleansing exercises, anti-money laundering, and making sure we have the right details for people, etc. Once all of that work is done, we will continue with the review and see what the next steps are.