The Dormant Bank and Building Society Accounts Act 2008 (c. 31) is an act of the Parliament of the United Kingdom.
Provisions It authorises the distribution, by the Big Lottery Fund, of assets from cash accounts that are considered dormant. A bank account is considered dormant if it has not been accessed in 15 years.
Commencement Parts 1 and 2 came into force on 12 March 2009.The Dormant Bank and Building Society Accounts Act 2008, section 31; the Dormant Bank and Building Society Accounts Act 2008 (Commencement and Transitional Provisions) Order 2009 (SI 2009/490 (C.33), article 2. Part 3 came into force on 26 November 2008.The Interpretation Act 1978, section 4(b).
Further developments The legislation became part of the Big Society policy under the Cameron-Clegg coalition.
Charities to have received funding under the act include Age UK, Harrogate Skills 4 Living Centre and Harry Specters.
, the scheme has released .
See also
Building Societies Act
Notes
References "Dormant Bank and Building Society Accounts Act 2008". Halsbury's Statutes of England and Wales. Fourth Edition. 2010 Reissue. LexisNexis. Volume 19(2). Page 861 to 893. Current Law Statutes Annotated 2008
External links
Explanatory notes to the Dormant Bank and Building Society Accounts Act 2008.