Dormant Accounts Act, 2001

Plan of Board.

42.—(1) As soon as practicable after its establishment, the Board shall prepare a plan for the disbursement of moneys from the investment and disbursements account and the plan shall include—

(a) the objectives of the Board in making disbursements under this Part and its strategy for achieving those objectives,

(b) the priorities of the Board in respect of particular programmes or projects referred to in section 41 (1)(a), and

(c) any other matters that the Minister may from time to time specify when issuing directions or guidelines under subsection (2).

(2) The Minister may issue directions or guidelines to the Board concerning the preparation of the plan and the Board shall comply with those directions and prepare the plan in accordance with those guidelines.

(3) The Board shall review and, if necessary, update the plan not later than 3 years after its establishment and at least once in every 3 years thereafter.