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Dormant Accounts (Amendment) Act 2005

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Number 8 of 2005

DORMANT ACCOUNTS (AMENDMENT) ACT 2005

ARRANGEMENT OF SECTIONS

Section

1.

Definitions.

2.

Establishment day.

3.

Amendment of section 2 (interpretation) of Principal Act.

4.

Repeal of section 3 (establishment day) of Principal Act.

5.

Amendment of section 5 (expenses) of Principal Act.

6.

Amendment of section 6 (penalties and proceedings) of Principal Act.

7.

Substitution of Part 5 of Principal Act.

8.

Substitution of Part 6 of Principal Act.

9.

Amendment of section 45 (reports) of Principal Act.

10.

Amendment of section 47 (accountability) of Principal Act.

11.

Transitional provisions.

12.

Dissolution of Dormant Accounts Fund Disbursements Board.

13.

Transfer of property and liabilities.

14.

Preservation of certain contracts and adaptation of references.

15.

Pending legal proceedings.

16.

Short title and collective citation.

17.

Commencement.

Acts Referred to

Central Bank and Financial Services Authority of Ireland Act 2003

2003, No. 12

Companies Acts 1963 to 2003

Dormant Accounts Act 2001

2001, No. 32

European Parliament Elections Act 1997

1997, No. 2

Equal Status Act 2000

2000, No. 8

Freedom of Information Act 1997

1997, No. 13

Local Government Act 2001

2001, No. 37

Public Accounts and Charges Act 1891

54 & 55 Vic., c. 24

Unclaimed Life Assurance Policies Act 2003

2003, No. 2

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Number 8 of 2005

DORMANT ACCOUNTS (AMENDMENT) ACT 2005

AN ACT TO AMEND THE DORMANT ACCOUNTS ACTS 2001 AND 2003 TO PROVIDE FOR THE ESTABLISHMENT OF A BODY TO BE KNOWN AS AN BORD UM CHUNTAIS DHÍOMHAOINE OR, IN THE ENGLISH LANGUAGE, THE DORMANT ACCOUNTS BOARD AND TO DEFINE ITS FUNCTIONS; TO REFORM THE PROCESSES BY WHICH DECISIONS ARE MADE ABOUT DISBURSEMENTS, AND MONEYS ARE DISBURSED, FROM THE DORMANT ACCOUNTS FUND; AND TO PROVIDE FOR THE DISSOLUTION OF THE DORMANT ACCOUNTS FUND DISBURSEMENTS BOARD AND FOR RELATED MATTERS. [25th May, 2005]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: