Charlie McConalogue (Donegal North East, Fianna Fail)
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454. To ask the Minister for Environment, Community and Local Government if he will provide an update on the application process for distribution of funding through dormant accounts; and if he will make a statement on the matter. [25610/14]

Phil Hogan (Carlow-Kilkenny, Fine Gael)
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Under the Dormant Accounts legislation,balances on dormant accounts with banks, building societies and An Post and the net encashment value of certain life assurance policies are paid into the Dormant Accounts Fund, which is managed by the National Treasury Management Agency. The primary purpose of the legislation is to re-unite the original account holders with their moneys, including all interest due. In addition, the legislation provides that disbursements from the fund may be made for charitable purposes or for purposes of community benefit.

The Dormant Accounts Disbursement Scheme for 2013-2016 was approved by Government in December 2013 and sets out the objectives to be achieved by making disbursements from the fund.  The 2012 Dormant Accounts (Amendment) Act also provides for the preparation of an action plan to give effect to the disbursement scheme.  My Department has been consulting with relevant Government Departments and Pobal in this regard with a view to the Action Plan being completed in the coming weeks. Once the Plan is adopted, it will be possible to commence implementation of measures under the Plan. The assessment criteria and the application procedures for Dormant Accounts will be published as will a list of the projects ultimately funded.