Éamon Ó Cuív proposes register for historic bank safe deposits
Éamon Ó Cuív introduced a comprehensive bill to create a register of bank safe deposit property and to manage unclaimed items. He argued that items of historical interest should be transferred to the National Museum of Ireland (or other appropriate cultural bodies) and that unclaimed cash should be lodged in the Dormant Accounts Fund.
Bill overview and origins
The speaker presented a 30-section bill that has been four years in development. He thanked members of the Joint Oireachtas Committee on Social Protection, Rural and Community Development and the Islands, the staff of APLA and the Office of Parliamentary Legal Advisors, and the individual who first suggested the idea.
Register and identification process
The bill seeks to create a register of property deposits in banks and to identify safekeeping property deposits where records can show a living or beneficial owner, starting with the oldest deposits first. Provisions include publication and searches to locate owners where they are not readily identifiable.
Handling of unclaimed historical items
It is proposed that where no owner is identified, items of historical interest would be notified to the director of the National Museum of Ireland for examination and potential retention. The museum may decide to retain items or pass them on to other agencies such as the National Gallery or the National Library for appropriate care or display.
Safeguards and timeframes
The bill sets a safeguard that no safe deposit box held by a bank for less than 80 years will be opened. The speaker emphasised that the register would record deposits in chronological order back to the late 18th century and noted the practical privacy and longevity implications of the 80-year rule.
Legislative structure and next steps
The speaker described the bill’s structure in numbered parts, covering preliminary and general matters, registration and examination, state retention of unclaimed property, notification duties, disposal and transfer of unclaimed monies to the Dormant Accounts Fund, and miscellaneous provisions. He invited further consideration and said he looked forward to learning from the future scrutiny of the measure.
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Hi, I'm glad to have you in the next year. I'm glad to have you in the next year. I'm delighted to get this opportunity to introduce this bill before the House. It is a very comprehensive bill with 30 sections in it and it has been four years in the state. I'd like to thank my colleagues on the Joint Oireachtas Committee on Social Protection, Rural and Community Development and the Islands for their interest in this bill and the staff of APLA, the Office of Parliamentary Legal Advisors, for all the work that they have done. I'd also like to thank the person who came to me first and made what is a very interesting suggestion to me. The Irish banks first opened in the late 18th century and since then the banks have held deposit boxes. It is believed that these boxes, many of which are unclaimed, could hold items of historical interest. In the event of no owner being identified, the bill proposes that those of historical interest should be transferred to the National Museum of Ireland and they might pass them on to other appropriate agencies such as the National Gallery or the National Library and so on. Why any cash not claimed should be lodged in the Dormant Accounts Fund. The specific provisions of the bill are broken into four parts. But the purposes are to create a register of property deposits in banks. The second one is to identify the safekeeping property deposits where the records are sufficient to identify a living or beneficial owner starting with the oldest deposits first. There are all sorts of provisions there to publish and look for owners where they are not readily identifiable. The third one is to examine all property where the owners are not identified and to notify the director of the National Museum of any unclaimed property who will then examine the property and decide whether it should be retained by it or by certain other bodies and put on display. The bill also provides for the transfer of unclaimed funds to the Dormant Accounts Fund. I would like to stress that the idea is that all safe deposits will be recorded in chronological order back to the beginning of the banks in the late 18th century. And no safe deposit box held by a bank for less than 80 years will be opened. When you consider that the average age of a person putting a deposit, well, the youngest age is likely to be 20. It would not happen until they were over 100 years of age. The bill is broken into four parts, if you just give me a little indulgence. The first deals with preliminary and general. This includes the purposes of the bill, the short title, the interpretation section, expenses and regulations and offences under the bill. The second part provides for registration, notification and examination of historical property deposits. The third part provides for the retention by the state of unclaimed property. The fourth part provides for notification of other persons for the performance of statutory functions. The fifth part provides for the disposal of unclaimed property and the transfer of unclaimed monies. And the sixth provides for miscellaneous matters. I would say thank you very much for your responsibility for this. And the sixth provides for miscellaneous matters. I will have a great time to learn from the future. We are making money, and we are making money. I will make money for the transport and the future. I will not be able to make money! But I will make money for the past six months.
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