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Statutory Instruments

2011 No. 1799

Banks And Banking

Building Societies

The Distribution of Dormant Account Money (Apportionment) Order 2011

Made

19th July 2011

Coming into force in accordance with article 1

This Order is made in exercise of powers conferred by section 17(1) and (4) of the Dormant Bank and Building Society Accounts Act 2008 (“the Act”)( 1 ).

The Minister for the Cabinet Office has consulted in accordance with section 17(5) of the Act.

In accordance with section 17(6) of the Act, a draft of this instrument was laid before Parliament and approved by a resolution of each House of Parliament.

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

Citation and Commencement I1

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 I2

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 [F1 dormant assets money F1] ) —

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

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

(c) 8.4 per cent for meeting expenditure in relation to Scotland,

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

Signatory text

Nick Hurd

Parliamentary Secretary, Cabinet Office

( 1 )

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 .

Status: There are currently no known outstanding effects for the The Distribution of Dormant Account Money (Apportionment) Order 2011.
The Distribution of Dormant Account Money (Apportionment) Order 2011 (2011/1799)
Version from: 20 July 2022

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Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (see footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
defined term Defined term
dfn Defined term (alternative style)
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
F1 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 substituted
I1 Art. 1 in force at 20.7.2022 in accordance with art. 1
I2 Art. 2 in force at 20.7.2022 in accordance with art. 1
Defined Term Section/Article ID Scope of Application
the Act Preamble def_31f7c89fa6

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