Seanad debates

Thursday, 20 October 2011

Dormant Accounts Bill 2011: Committee and Remaining Stages

 

11:00 am

Photo of Diarmuid WilsonDiarmuid Wilson (Fianna Fail)

I welcome the Minister back to the House for this brief visit. I commend him on his willingness to come to the House to address any issue relating to his brief. I welcome this legislation. The disbandment of the board will mean a saving of between €120,000 and €150,000 per annum, which is welcome. The Minister assured us on Second Stage that an audit is being carried out in the banks to ensure they are complying with the dormant accounts legislation and to ensure they are telling him the truth as to the amount of money in dormant accounts. I also welcome that. I hope some of those audits will be published at some point in the future.

I welcome the work that has already been done by the dormant accounts fund. That work would not have happened without the fund. I hope the fund can continue long into the future.

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