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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

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,

(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)

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Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
F1Words 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. 2substituted
I1Art. 1 in force at 20.7.2022 in accordance with art. 1
I2Art. 2 in force at 20.7.2022 in accordance with art. 1
Defined TermSection/ArticleIDScope of Application
the ActUnknown(“_prneDR3s
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The Distribution of Dormant Account Money (Apportionment) Order 2011 2011 No. 1799 art. 1 coming into force The Distribution of Dormant Account Money (Apportionment) Order 2011 2011 No. 1799 art. 1 Yes
The Distribution of Dormant Account Money (Apportionment) Order 2011 2011 No. 1799 art. 2 coming into force The Distribution of Dormant Account Money (Apportionment) Order 2011 2011 No. 1799 art. 1 Yes

Status of changes to instrument text

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