Dormant Accounts Act, 2001

Register of Dormant Accounts.

14.—(1) Each institution shall keep a register of dormant accounts.

(2) Subject to subsection (3), an institution shall enter in the register the following particulars in respect of dormant accounts from which moneys are transferred to the Fund under section 12 :

(a) the name and address of the account holder;

(b) the account number, if any and ascertainable;

(c) if a notification was sent to the account holder under section 10 , the date on which and, if different from the address referred to in paragraph (a), the address to which the notification was sent;

(d) the date on which the account was deemed to be a dormant account;

(e) the date of the transfer to the Fund and the amount transferred;

(f) if the moneys so transferred were repaid to the account holder under section 19 , the date on which the moneys were repaid and the amount repaid;

(g) any other matters that may be prescribed.

(3) Where moneys are transferred to the Fund under section 12 from a petty balances account, subsection (2) does not apply and the following particulars only shall be entered in the register:

(a) the petty balances account number;

(b) the total amount so transferred;

(c) the total amount repaid to account holders from the petty balances account under section 19 .

(4) The register may be kept in any form subject to its being capable of being converted into a legible form and being used to make a legible copy or reproduction of any entry in the register.

(5) (a) Subject to paragraph (b), the register shall not be open to public inspection.

(b) Nothing in paragraph (a) shall be construed as restricting—

(i) the application of the Data Protection Act, 1988 , or

(ii) the right of a person, who proves to the satisfaction of an institution that he or she is, or may be, an account holder, to inspect the register insofar as that account is concerned.

(6) An institution that fails to—

(a) keep a register, or

(b) enter in the register the particulars specified in subsection (2) or (3),

shall be guilty of an offence.