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Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Okay.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: All right.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: There was no such plan.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Without an action plan, one cannot see what projects are identified. Is that not right?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Okay.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: These issues are coming to our attention because of the Comptroller and Auditor General's report. They are not coming to our attention proactively from the various Departments. This is extremely worrying because there should be an inbuilt review of what is going on to facilitate the distribution of this money. I would like to clarify something. If an account pertaining to the list of the...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Okay. The credit unions have never come into this.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Mr. McCarthy has no view on that because it is a policy decision.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: That is okay. How much of the money that goes in has to be kept in reserve in case people come back in the future?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Yes.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: I know what the current value is.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: I just want to know what has to be kept in reserve. How much money would be available for disbursement if there was a full team disbursing the money?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: The NTMA has a formula for coming up with-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: It is okay. I just want to know the mechanics. The NTMA keeps that much in reserve and everything else can be given out.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: That money can be given out by the various Departments if they are able to do so. Some €80 million is kept in reserve.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: I will move on to the social enterprise schemes. I would like to put this in perspective. Last night, I took a phone call from an organisation in Connemara, Teagmháil na nÓg, which has just received a letter from the local ETB - I keep calling it the VEC - to tell it that it is going to close. This is a special centre for children who drop out of school and it has been told it is...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Yes.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Yes.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Okay. Has the Department developed its policy on social enterprise or is it still working on it?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General
Chapter 7 - Dormant Accounts Fund
(8 Feb 2018)

Catherine Connolly: Yes.

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