S.I. No. 922/2005 - Dormant Accounts (Amendment) Act 2005 (Establishment Day) Order 2006

I, ÉAMON Ó CUÍV, Minister for Community, Rural and Gaeltacht Affairs, in exercise of the power conferred on me by section 2 of the Dormant Accounts (Amendment) Act 2005 (No. 8 of 2005), hereby order as follows:

Citation.

1.  This Order may be cited as the Dormant Accounts (Amendment) Act 2005 (Establishment Day) Order 2006.

Establishment day.

2.  The 4th day of January, 2006 is appointed to be the establishment day for the purposes of the Dormant Accounts (Amendment) Act 2005 (No. 8 of 2005).

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

The Dormant Accounts (Amendment) Act 2005 provides for changes in relation to decision-making on disbursements from the Dormant Accounts Fund and for the establishment of a reconstituted Board (the Dormant Accounts Board).

This Order provides that the Dormant Accounts Board is established on 4th day of January, 2006 as per the provisions of Section 30 of the Dormant Accounts (Amendment) Act 2005 .

The functions of the Dormant Accounts Board are to prepare a Disbursement Plan for the disbursement of moneys from the Dormant Accounts Fund and to review and assess the impact and additionality of spending from the Dormant Accounts Fund.