Dormant Bank and Building Society Accounts Act 2008
| Act of Parliament | |
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| Long title | An Act to make provision for, and in connection with, using money from dormant bank and building society accounts for social or environmental purposes. |
|---|---|
| Citation | 2008 c 31 |
| Introduced by | Lord Davies of Oldham, Angela Eagle[2] |
| Territorial extent | England and Wales, Scotland and Northern Ireland[3] |
| Dates | |
| Royal assent | 26 November 2008 |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
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.[4] A bank account is considered dormant if it has not been accessed in 15 years.[4]
Commencement
Parts 1 and 2 came into force on 12 March 2009.[5] Part 3 came into force on 26 November 2008.[6]
Further developments
The legislation became part of the Big Society policy under the Cameron-Clegg coalition.[7]
Charities to have received funding under the Act include Age UK, Harrogate Skills 4 Living Centre and Harry Specters.[8]
As of August 2024, the scheme has released £745,000,000.[9]
See also
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
- ^ The citation of this act by this short title is authorised by section 32 of this Act.
- ^ "Dormant Bank and Building Society Accounts Bill [HL] 2007-08 — UK Parliament". Archived from the original on 28 March 2012. Retrieved 22 September 2011.
- ^ The Dormant Bank and Building Society Accounts Act 2008, section 30
- ^ a b "Dormant bank accounts emptied to fund youth projects". BBC News. 11 July 2013. Archived from the original on 11 July 2013. Retrieved 3 September 2025.
- ^ 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 (S.I. 2009/490 (C.33), article 2.
- ^ The Interpretation Act 1978, section 4(b).
- ^ Prince, Rosa (19 July 2010). "Dormant bank accounts to pay for Big Society projects". The Daily Telegraph. Archived from the original on 11 September 2012. Retrieved 3 September 2025.
- ^ "Dormant bank accounts to yield £330m more for good causes". BBC News. 3 January 2018. Archived from the original on 24 December 2020. Retrieved 3 September 2025.
- ^ Geraghty, Liam (21 August 2024). "Use money from Brits' dormant bank accounts to rebuild riot-hit communities, government told". The Big Issue. Archived from the original on 22 August 2024. Retrieved 3 September 2025.
External links
- The Dormant Bank and Building Society Accounts Act 2008, as amended from the National Archives.
- The Dormant Bank and Building Society Accounts Act 2008, as originally enacted from the National Archives.
- Explanatory notes to the Dormant Bank and Building Society Accounts Act 2008.