Lead Partner: Scarman Trust
Description
A Dormant Accounts Fund was established in 2002 by the Irish government. The Fund draws its money from bank accounts that have been inactive for a number of years and since 2002 €60 million has been distributed in grants. The Dormant Accounts Fund Disbursements Board was established on a statutory basis on 5th June 2002 and is under the aegis of the Department of Community, Rural and Gaeltacht Affairs and during the Carnegie Commission evidence gathering, we appraised this fund. The overall objective is to ensure that dormant accounts funds are disbursed in a manner that optimises their effectiveness and assists the personal, educational and social development of persons who are economically, educationally or socially disadvantaged.
The UK Treasury prompted debate in the UK about the use of funds from dormant accounts. The Scarman Trust propose the establishment of a Community Assets Fund to distribute this money. The Commission on Unclaimed Assets was set up in November 2005 and is chaired by Sir Ronald Cohen to propose recommendations for the UK.
Carnegie UK Trust has been represented on the Commission examining the future for dormant accounts. Please read the commission report below.
Contact Details
The Commission on Unclaimed Assets
London Metropolitan University, 31 Jewry Street
London, EC3N 2EY
Telephone: 020 7320 3045
Fax: 020 7320 1297
Email: info@unclaimedassets.org.uk
Website: http://www.unclaimedassets.org.uk/
| Attachment | Size |
|---|---|
| Commission on Unclaimed Assets report.pdf | 1.5 MB |