Dormant Accounts Act, 2001

Authorisation of inspectors.

22.—(1) The Minister may authorise one or more persons to be inspectors for the purposes of—

(a) ensuring compliance by the institutions with this Act,

(b) examining claims for repayment under section 19 ,

(c) ascertaining whether institutions have established systems, procedures and practices that are adequate to secure an effective check on the identification, notification, transfer, recording and repayment of moneys in dormant accounts, and

(d) determining whether those systems, procedures and practices have been employed and applied in an adequate manner in relation to moneys in dormant accounts.

(2) An authorisation under this section shall be in writing and shall be subject to any terms and conditions (including terms and conditions relating to the remuneration, fees and allowances for expenses) that may be determined by the Minister, with the consent of the Minister for Finance, and that are specified in the authorisation.

(3) The remuneration, fees and allowances for expenses referred to in subsection (2) shall be payable out of the Fund.

(4) The authorisation of an inspector under this section ceases when the Minister revokes the authorisation.

(5) Subject to section 24 , the Minister may give directions in relation to the form, manner and content of the report to be prepared by an inspector.