Written answers
Wednesday, 11 November 2009
Department of Community, Rural and Gaeltacht Affairs
Dormant Accounts Fund
9:00 am
Joe Costello (Dublin Central, Labour)
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Question 209: To ask the Minister for Community, Rural and Gaeltacht Affairs when the Dormant Account fund was established; the amount of money his Department has received from this fund in each year and to date in 2009; the distribution of the total moneys by county; and if he will make a statement on the matter. [40982/09]
Éamon Ó Cuív (Galway West, Fianna Fail)
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The Dormant Accounts Fund Acts provides for an annual transfer by credit institutions and insurance undertakings of monies in accounts determined to be dormant into the Dormant Accounts Fund (DAF). Since its establishment in April 2003, to the end of September 2009, the transfers to the DAF have totalled some €513.90m, broken down each year as follows:
Year | Transferred from Financial Institutions |
2003 | €196.21m |
2004 | €56.02m |
2005 | €40.82m |
2006 | €80.15m |
2007 | €66.30m |
2008 | €33.03m |
2009 (to 30.09.2009) | €41.37m |
Funds reclaimed since April 2003 total some €181.27m. The value of the Fund at the end of September 2009, net of liabilities, was some €49.76m. This figure excludes around €46.5m maintained in a Reserve Account to meet future reclaims by account holders and to cover expenses associated with the operation of the Fund.
Details of the individual grants and organisations that have been approved for support from the Fund and their geographical location are available on the Department's website at www.pobail.ie.
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