Written answers

Wednesday, 28 September 2005

Department of Community, Rural and Gaeltacht Affairs

Dormant Accounts

9:00 pm

Photo of Denis NaughtenDenis Naughten (Longford-Roscommon, Fine Gael)
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Question 836: To ask the Minister for Community, Rural and Gaeltacht Affairs, further to a parliamentary question of 30 June 2005, the reason an application (details supplied) was refused approval under the dormant accounts fund; if this matter will be reviewed; his plans to seek further applications under the fund; and if he will make a statement on the matter. [25134/05]

Photo of Noel AhernNoel Ahern (Dublin North West, Fianna Fail)
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The Deputy will be aware that decisions on the disbursement of funds from dormant accounts moneys under the initial round of funding were a matter for the Dormant Accounts Fund Disbursements Board. My reply to Question No. 440 of 30 June 2005 refers. The board is an independent body established under the Dormant Accounts Acts. The board engaged Area Development Management Limited, ADM, to administer the initial round of funding on its behalf, which involves the disbursement of up to €60 million from the fund.

I understand that the application did not satisfactorily meet the appraisal criteria and the group was informed of the board's decision not to approve the application for funding on 15 April 2005. The group was offered the opportunity to discuss the application with ADM and seek a review of the board's decision. I am advised that the group concerned requested the board to review its decision. The outcome of the review was to uphold the original board decision not to approve funding and the group were informed of this decision on 22 July 2005.

In relation to further applications, the Deputy will be aware that the Dormant Accounts (Amendment) Act 2005 provides for legislative changes in relation to arrangements for dormant accounts funding. Arrangements for future allocations from the fund, which will be subject to the provisions of the amended Act, are under consideration at the moment.

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