The statutory functions of the Dormant Accounts Board

a) to prepare and submit to the Minster, in accordance with section 42, a plan for the disbursement of monies under part 6, of the 2005 Act. The  plan was submitted to the Minister of Community, Equality and Gaeltacht Affairs and was approved by Government in July 2006. The Board is required by the Dormant Accounts (Amendment) Act 2005 to:

b) Review and assess from time to time:

• The extent to which the objectives specified in the Plan have been achieved
• The effectiveness of the strategies specified in the Plan, and
• The pattern and effect of disbursement under Part 6 of the 2005 Act, including whether they have resulted in activities that, but for those disbursements, might not have been undertaken and 

c) To make reports to the Minister under Section 45(3) of the 2005 Act. 

The Board is also required to review and, if necessary, update the Plan within 3 years after the date on which it takes effect and at least once in every 3 years after that.