Written answers

Thursday, 16 December 2010

Department of Finance

Dormant Accounts Fund

5:00 am

Photo of Noel AhernNoel Ahern (Dublin North West, Fianna Fail)
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Question 160: To ask the Minister for Finance the position regarding the original amalgamation of the Dublin Savings Bank which had branches in Thomas Street and Abbey Street; if dormant accounts legislation existed at the date of the original amalgamation; if so, the amount that went to the dormant accounts fund; if the legislation came later, the amount passed over in initial implementation of the Act by the Dublin Savings Bank or overall parent company at the relevant time; and if he will make a statement on the matter. [48021/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The Dublin Savings Bank was merged into the Trustee Savings Bank in 1988 and now forms part of Permanent TSB. The merger preceded the Dormant Accounts legislation by more than a decade. The Dormant Accounts Act 2001 established the Dormant Accounts Fund. The Act provided for the first transfer of moneys to the Fund in respect of dormant accounts to be made not later than 30 April 2003. Permanent TSB transferred 17,397,639 euros to the Fund on 15th April 2003. Any person who held an account in the Dublin Savings Bank and has a dormant account query should, in the first instance, directly contact Permanent TSB.

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