Oireachtas Joint and Select Committees

Thursday, 8 February 2018

Public Accounts Committee

Business of Committee

9:00 am

Mr. Seamus McCarthy:

They are essentially funds that charities have submitted to the Charities Regulatory Authority to invest and protect for them for a period. They are available to the charities. It is a system which is long established. It used to be the charitable donations and bequests fund. This one is in a wind down situation. There are no new funds going into it so these are the residual amounts that are available to specific charities. They are their funds.