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280A.—(1) Notwithstanding the provisions of any enactment or rule of law, where sums are due to the Minister or the Social Insurance Fund in accordance with section 279 or 279B because benefit or assistance which was intended for a beneficiary was paid to a financial institution for the credit of an account kept with that institution by the beneficiary and he or she dies before the payment or payments were made, the said benefit or assistance may be recovered from the financial institution in accordance with subsection (2).
(2) The Minister may give written notice to a financial institution requiring the institution to pay to him or her, within the period specified in the notice, the lesser of the following amounts:
(a) the amount specified in the notice, being the amount of benefit or assistance recoverable in accordance with subsection (1), or
(b) the amount standing to the credit of the account when the notice is received by the institution,
and the financial institution shall comply with such a direction.
(3) In this section ‘financial institution’ means—
(a) a bank which is the holder of a licence under
section 9
of the
Central Bank Act, 1971
,
(b) a trustee savings bank within the meaning of the
Trustee Savings Banks Act, 1989
,
(c) a building society within the meaning of the
Building Societies Act, 1989
,
(d) a post office savings bank established under the Post Office Savings Bank Acts, 1861 to 1958, or
(e) such other body as may be prescribed.”.
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