Written answers

Friday, 16 December 2016

Department of Arts, Heritage and the Gaeltacht

Dormant Accounts Fund Administration

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail)
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311. To ask the Minister for Arts, Heritage and the Gaeltacht the total spending to date under the Dormant Accounts Fund in 2016; the remaining funds that are currently in the fund in 2016; and if she will make a statement on the matter. [40816/16]

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail)
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312. To ask the Minister for Arts, Heritage and the Gaeltacht the total spending to date under the Dormant Accounts Fund in 2016, by county, in tabular form; and if she will make a statement on the matter. [40817/16]

Photo of Michael RingMichael Ring (Mayo, Fine Gael)
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I propose to take Questions Nos. 311 and 312 together.

The Dormant Accounts Act 2001, together with the Unclaimed Life Assurance Policies Act 2003 and the Dormant Accounts (Amendment) Acts 2005-2012, provide a framework for the administration of unclaimed accounts in credit institutions (i.e. banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.

The legislation introduced a scheme for the disbursement of funds that are unlikely to be reclaimed, but only for the purposes of programmes or projects to assist the personal and social development of persons who are economically or socially disadvantaged, the educational development of persons who are educationally disadvantaged, or persons with a disability. These programmes and projects are implemented by a range of Government Departments and agencies.

My Department has an oversight role in the relation to the allocation and disbursement of Dormant Accounts funding and also provides funding for a number of measures. Details of the monies disbursed from my own Department's Vote to date in 2016 ,by measure and by county, are set out on the table below.

Full summary details of the Dormant Accounts Fund are available on my Department’s website at: .

The net value of uncommitted Dormant Account funds stood at €139.94 million at the end of September 2016.

Dormant Accounts Measure County Expenditure

Round 4 - RAPID Dublin Fingal 23,777.00
Round 4 - RAPID Wexford 499.50
Round 4 - 5 New RAPID Towns Limerick County 3,950.00
Social Enterprise Clare 60,000.00
Social Enterprise Cork County 212,470.80
Social Enterprise Dublin County 43,632.00
Social Enterprise Dublin Fingal 131,982.48
Social Enterprise South Dublin County 22,356.00
Social Enterprise Galway City 55,390.50
Social Enterprise Kerry 135,120.00
Social Enterprise Kilkenny 90,000.00
Social Enterprise Limerick City 22,000.00
Social Enterprise Mayo 40,847.00
Social Enterprise Meath 34,560.00
Social Enterprise Roscommon 39,217.50
Social Enterprise Wexford 21,555.00
Social Enterprise Wicklow 42,702.30
Total 980,060.08

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