Legislation

View the Dormant Accounts (Amendment) Act 2005

In September 2005, the Dormant Accounts (Amendment) Act 2005 came into effect. This amended legislation provides for a new process whereby Government are responsible for decisions on disbursements from the fund and a reconstituted Board, known as the Dormant Accounts Board was set up. The objectives of the scheme remain the same and disbursements continue to be made within the framework of the objectives and priorities set out in the Disbursement Plan drawn up by the Board.

View the Dormant Accounts Act 2001

This act provides for the transfer of moneys from dormant accounts and the intestate estates fund deposit account to the dormant accounts fund. It confers functions on the National Treasury Management Agency in relation to the control and management of the fund to provide for the disbursement of moneys, including reclaims. It established the Dormant Accounts Fund Disbursements Board and defines its functions and provides for the appointment of inspectors. It also amends the State Property Act 1954 and provides for other related matters.

View the Unclaimed Life Assurance Policies Act 2003

This act provides for the transfer of moneys payable under unclaimed life assurance policies to the Dormant Accounts Fund, which was established under the Dormant Accounts Act 2001. It provides for the payment of moneys from the fund and the appointment of inspectors. It also provides for the amendment and extending of the Dormant Accounts Act 2001 and other related matters.