Noel Ahern (Dublin North West, Fianna Fail)

The new board's report will reflect the change in functions from those of the former board.

Also reflecting the changed role of the board, section 10 removes the accountability of the chairperson of the new board to the Committee of Public Accounts. The chairperson of the former board will remain accountable to the committee in respect of decisions of that board. The new board will have power to instruct the National Treasury Management Agency to make disbursements on foot of decisions made by the former board which have not been paid out on establishment of the new board, and the chairperson of the new board will be accountable to the Committee of Public Accounts in respect of those decisions.

Sections 13 to 15 make standard provisions regarding transfer of assets, liabilities and contracts to the new board, takeover of contracts and agreements and substitution of the name of the new board in any legal proceedings. It will remain the purpose of spending from the dormant accounts fund to assist persons who are socially, economically or educationally disadvantaged, and persons with a disability. This was and remains the original core function.