Legalize / United Kingdom / Statutory-Instrument

The Distribution of Dormant Account Money (Apportionment) Order 2011

Type Statutory-Instrument

Publication 2011-07-19

State In force

Department King's Printer of Acts of Parliament

Source legislation.gov.uk

Reform history JSON API PDF

Made: 19th July 2011

Coming into force in accordance with article 1

Accordingly, the Minister for the Cabinet Office makes the following Order:

Citation and Commencement

1

This Order may be cited as the Distribution of Dormant Account Money (Apportionment) Order 2011 and comes into force on the day after the day on which it is made.

Apportionment

2

The following percentages are prescribed for the purposes of section 17(1) of the Dormant Bank and Building Society Accounts Act 2008 (apportionment of dormant assets money) —

(a) 83.9 per cent for meeting expenditure in relation to England,

(b) 4.9 per cent for meeting expenditure in relation to Wales,

(d) 2.8 per cent for meeting expenditure in relation to Northern Ireland.

Signed

Signatory text

Nick Hurd — Parliamentary Secretary, Cabinet Office — 2011-07-19

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order prescribes the percentages that are to apply for the purpose of section 17 of the Dormant Bank and Building Society Accounts Act 2008 (the “2008 Act”). Section 17 provides for the apportionment of dormant accounts money made available for distribution under the 2008 Act between England, Wales, Scotland and Northern Ireland.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

Footnotes

[^f00001]: 2008 c.31. The functions of the Secretary of State under section 17 were transferred to the Minister for the Cabinet Office by S.1. 2010/2967.

Editorial notes

[^key-961d986b558f04530e68f5fb24030b6a]: Words in art. 2 substituted (6.6.2022) by Dormant Assets Act 2022 (c. 5), s. 34(3), Sch. 1 para. 18; S.I. 2022/582, reg. 2

[^key-be60fa1fa4fe2e6a15214b3f6aa2b9a4]: Art. 1 in force at 20.7.2022 in accordance with art. 1

[^key-567ee05fe6a23f767f6b2927af6e5fa9]: Art. 2 in force at 20.7.2022 in accordance with art. 1

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