Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697804999178.pdf (Ireland)
Dormant Accounts Fund Disbursement Scheme 2020 - 2022 2 Table of Contents Section 1: Introduction ............................................................................................. 4 Section 2: Ministerial Responsibilities ...................................................................... 5 Section 3: Disbursement Scheme Objectives and Strategies ..................................... 6 Appendix: Further Application Processes through the Dormant Accounts Fund ....... 9 3 Section 1: Introduction The Dormant Accounts Act 2001, together with the Unclaimed Life Assurance Policies Act 2003, provide a framework for the administration of unclaimed accounts in credit institutions (i.e.
banks, building societies and An Post) and unclaimed life assurance policies in insurance undertakings.

The main purpose of the legislation is to reunite account or policy holders with their funds in credit institutions or insurance undertakings.

In this regard, these bodies are required to take steps to identify and contact the owners of dormant accounts and unclaimed life assurance policies.
Dormant funds or unclaimed life assurance policies which have not been reclaimed by the original accounts/policy holder, or their beneficiaries, are transferred each year by the holding institution to the Dormant Accounts Fund which is managed by the National Treasury Management Agency (NTMA).

The transfer of moneys takes place on the basis that the beneficial owner will have a guaranteed right of reclaim to their property at any time in the future.
However, the legislation also introduced a scheme for the disbursement of funds that are unlikely to be reclaimed.

These funds which are unlikely to be reclaimed can be used only for the purposes of programmes or projects to assist:   the personal and social development of persons who are economically or socially disadvantaged; the educational development of persons who are educationally disadvantaged or;  persons with a disability.
The legislation established an administrative framework around the disbursement of these funds, of which this disbursement scheme is part.

Since July 2017, responsibility for the disbursement of funds from the Dormant Accounts Fund rests with the Minister for Rural and Community Development.
4 Section 2: Ministerial Responsibilities The key elements of the administrative framework established within the Acts are the preparation of: (i) (ii) (iii) a disbursement scheme for the approval of Government action plans to give effect to the disbursement scheme, and annual reports to be submitted to Government and published.
The legislation states the disbursement scheme shall specify (i) “the objectives to be achieved by making disbursements from the account”, and (ii) “the strategies for achieving those objectives”.

The previous disbursement scheme covered the period 2017-2019, and this disbursement scheme covers the period 2020-2022.

The Minister must also prepare Action Plans (at least annually) to give effect to this disbursement scheme.
The Action Plans identify the actual projects and programmes to be funded from the Dormant Accounts Fund.

Each relevant Government Minister/Department identifies suitable proposals.

These are assessed by the Minister and a decision made on those proposals to be funded.

The Action Plan is then noted by Government, laid before the Houses of the Oireachtas, and published.

It is important to note that the Action Plans, which are usually annual in nature, mainly identify funding for subsequent years.
For example, the 2020 Action Plan was published in November 2019 and mainly identified measures to be funded in 2020.

This means that it was prepared in the context of the 2017-2019 Disbursement Scheme in place at that time.

The same will be true for any Action Plan prepared in 2022, which will mainly identify measures to be funded in the following year(s).

Finally, the legislation requires that Annual Reports are prepared, submitted to Government and published each year.
5 Section 3: Disbursement Scheme Objectives and Strategies Previous disbursement schemes set out relatively complex funding frameworks.

In addition to the objectives set down in legislation, the 2017-2019 scheme detailed 9 guiding principles, 3 priority areas and 30 individual strategies.

A review of previous disbursement schemes, published in July 2018, identified that this was an overly complex approach, and could potentially restrict projects that emerge from new policy priorities.
To address this issue, and in consultation with other Government Departments, this Disbursement Scheme 2020-2022 details high level objectives and strategies to be implemented over the period.

The exact areas for funding or types of projects proposed should be decided on by the Departments putting forward proposals.

This will allow policy priorities to be addressed as they emerge, but within the high level framework identified here.
Where assessment of applications for funding from Government Departments is required, this assessment by the Minister will take place in terms of alignment with these objectives and strategies.

Objectives: The types of projects and programmes approved in Dormant Accounts Action Plans developed over the 2020-2022 period will align with one or more of objectives 1-3 below: Objective 1: To assist programmes/projects designed to counter economic and/or social disadvantage.
Objective 2: To assist programmes/projects designed to address issues (e.g.

socio- economic or other disadvantage such as disability, literacy difficulties, ill health etc.)

preventing children and adults from deriving appropriate benefit from education.
Objective 3: To assist programmes/projects designed to give effect to the Government’s objective to ensure that persons with a disability (as defined in the Equal Status Act 2000) play a more active role in society and increase their level of independence.

In assessing applications for funding from Government Departments, the Minister will ensure alignment with at least one of the above objectives, and also consider objective 4 below.
Objective 4: To maximise the overall impact of the fund and to ensure an appropriate spread of projects and programmes both in terms of the socio-economic objectives and geographic spread.

6 Strategies: The Dormant Accounts Acts require that the Disbursement Scheme sets out the strategies for achieving the above objectives.
Following the recent review and consultation with other Government Departments, it is clear that each Department is best place to decide on the specific strategies to be adopted within their own policy areas.
However, a number of general strategies or principles will be considered in terms of developing Action Plans over the period, and the assessment of applications for funding from relevant Government Departments:  Strategy 1: Funding those projects which have the strongest direct impact on disadvantaged individuals and communities.

 Strategy 2: Seeking to maximise on-the-ground delivery of services or amenity – including, where appropriate, delivery through community and voluntary organisations.
 Strategy 3: Aiming to increase the total impact of the fund, for example, through match funding from philanthropic sources or use of corporate social responsibility resources within projects or programme.

 Strategy 4: Working to ensure a good flow of new and innovate projects and programmes are funded – with ongoing measures that have proven successful moving to normal Exchequer funding, if possible and more appropriate.
 Strategy 5: Measuring and demonstrating the impact and outcome of projects supported by the Fund.

An interdepartmental group on the Dormant Accounts Fund was established in 2018, and this group will work to ensure projects and programmes are developed and delivered in line with the above objectives and strategies.
Information on how proposed projects or programmes align with the above objectives and strategies will be required in applications for funding from Government Departments so as to enable assessment of proposals in line with this scheme.

It should also be noted that where Government Departments are utilising Dormant Accounts Funds to operate further competitive funding calls, specific procedures must be followed in accordance with the legislation governing the use of the funds.
These are summarised in an Appendix to this document.

7 Administration of the Funds Finally, with regard to proper use of public funds, each Government Department is responsible for delivery and administration of their own projects and programmes approved in any Action Plan.
All money from the Dormant Accounts Fund must be treated in exactly the same way as other public moneys and, as such, funding stemming from this disbursement scheme must be administered in accordance with Government guidelines and accounting procedures.

8 Appendix: Further Application Processes through the Dormant Accounts Fund for funding Some measures approved the Minister/Department inviting applications to further disburse the approved moneys to individual projects or programmes.
This usually involves a relatively large amount of money being approved for a broad measure which then involves further small grants to community or other organisations.
in Annual Action plans involve The legislation states that when a Minister decides to invite applications for disbursements as part of a measure specified in an Action Plan, he/she (or the delivery agent acting on their behalf) must:  Publish a notice inviting applications and setting out assessment criteria, the types of projects or programmes covered, the application procedure, the criteria governing the classes of persons who may make an application and the closing date;  Assess applications in accordance with the assessment criteria;  Prepare a report on the result of the assessments setting out a list of the applications received, a recommendation in relation to each, the reasons for same and the amount of disbursement recommended.
The Minister shall then:  Prepare a list of the applications that he/she recommends for disbursal and the amounts recommended for disbursal;  Submit the list to the Minister for Rural and Community Development for approval.

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