Dormant Accounts Act, 2001


Compliance with Act

Chapter 1

Certificate of Compliance

Certificate of compliance.

20.—(1) Each institution shall furnish a certificate of compliance to the Minister, not later than one month after the end of each financial year, in the form and manner that the Minister may prescribe, stating, if this is the case, that the institution has complied with this Act in respect of the following—

(a) the publication of a notice under section 11 ,

(b) in the case of an institution that holds dormant accounts to which section 12 (1) applies, the transfer of moneys from those accounts to the Fund under that section,

(c) in the case of an institution which does not hold any such dormant accounts, the filing of a report to that effect with the Agency under section 12 (6),

(d) the keeping of a register in accordance with section 14 , and

(e) the processing of claims for repayment under section 19 .

(2) The certificate shall be signed by a duly authorised officer and shall include any qualifications, amplifications or explanations that the officer considers appropriate.

(3) Where an institution fails to—

(a) appoint a duly authorised officer, or

(b) furnish a certificate of compliance under this section,

it shall be guilty of an offence.

(4) In this section “duly authorised officer” means authorised, in writing, by the institution concerned or by some person authorised in that behalf by that institution.