Dormant Bank and Building Society Accounts Act 2008

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Dormant Bank and Building Society Accounts Act 2008 [1]
Act of Parliament
Royal Coat of Arms of the United Kingdom (variant 1, 1952-2022).svg
Parliament of the United Kingdom
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Text of statute as originally enacted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.

Contents

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

  1. ↑ The citation of this act by this short title is authorised by section 32 of this Act.
  2. ↑ "Dormant Bank and Building Society Accounts Bill [HL] 2007-08 — UK Parliament". Archived from the original on 28 March 2012. Retrieved 22 September 2011.
  3. ↑ The Dormant Bank and Building Society Accounts Act 2008, section 30
  4. 1 2 "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.
  5. ↑ 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.
  6. ↑ The Interpretation Act 1978, section 4(b).
  7. ↑ 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.
  8. ↑ "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.
  9. ↑ 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.
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