Dormant Accounts (Amendment) Act 2012

Amendment of section 45 of Principal Act (reports).

4.— Section 45 (inserted by section 9 of the Act of 2005) of the Principal Act is amended—

(a) in subsection (1), by substituting the following for paragraphs (d) to (e):

“(d) details of amounts reimbursed in accordance with section 44A(2),

(e) details of the remuneration, fees and allowances for expenses of the inspectors referred to in section 17(4)(a)(ii) (as amended by the Dormant Accounts (Amendment) Act 2012),”,

and

(b) by substituting the following for subsections (2) to (5):

“(2) The Agency shall provide the Minister with a copy of each report made under subsection (1).

(3) The Minister shall, not later than 30 June in each year, prepare and furnish to the Government a report in writing (in this section referred to as the ‘annual report’) on the operation of Part 6 during the preceding year together with any findings, conclusions or recommendations concerning such operation as the Minister considers appropriate.

(4) As soon as practicable after the annual report has been submitted to the Government, the Minister shall cause copies of the report to be laid before each House of the Oireachtas.

(5) Any information that the Minister may require from time to time and that is not included in the annual report shall be provided—

(a) by the Agency, in the case of information relating to its functions under this Act or the Unclaimed Life Assurance Policies Act 2003 , or

(b) by a Minister of the Government within whose remit lies responsibility for a programme or a project in respect of which applications were approved under section 44(5).”.