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Dormant Bank and Building Society Accounts Act 2008

Territorial Application: Wales

20.The Act applies generally to Wales. Part 2 of the Act concerns distribution of money, and section 19 contains specific provisions conferring on the Welsh Ministers the power to restrict by order the distribution purposes and kinds of recipient for Welsh expenditure. Unlike England, the purposes and kinds of recipient of dormant account expenditure in Wales will not be set out on the face of the Act, as they have not yet been determined. This order must be approved by the National Assembly for Wales.

21.In addition to the power conferred under section 19, subsection (5)(a) of section 22 gives Welsh Ministers power to specify further by direction to the Fund the particular purposes and kinds of recipient for money apportioned to Wales. And subsection (6) of section 26 gives the Welsh Ministers the power to instruct the Fund to deduct from money apportioned for Welsh expenditure such amounts as the Welsh Ministers determine to be appropriate to defray their expenses incurred under the Act.

22.The Act also requires the Secretary of State to consult the Welsh Ministers on various matters. Section 17(5) requires the Secretary of State to consult the Welsh Ministers before making an apportionment of dormant account money. The Secretary of State must consult the Welsh Ministers before exercising his power in section 23 to prohibit distribution where the exercise of the power would relate to Welsh expenditure or would be likely to affect persons in Wales. The Secretary of State must also consult the Welsh Ministers before using his power under section 24 to add or remove distributors.

23.Paragraph 2 of Schedule 3 confers on the Welsh Ministers the power to instruct the Fund to prepare, adopt and modify strategic plans in relation to Welsh apportioned expenditure. Where the Fund adopts a strategic plan it must send a copy to the Welsh Ministers, who must lay a copy before the National Assembly for Wales.

24.Paragraph 9(4)(b) of Schedule 3 requires the Welsh Ministers to lay the Fund’s annual report before the National Assembly for Wales. Paragraph 10(2)(b) of Schedule 3 requires the Fund to send a copy of its accounts to the Welsh Ministers, and paragraph 10(4)(b) requires that the Comptroller and Auditor General must lay the accounts, and a report on them, before the National Assembly for Wales.

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