Policy & Resources Committee - P.2020/203
The States are asked to decide:-
Whether, after consideration of the Policy Letter dated, entitled "Use of Money in Dormant Accounts", dated 2nd December 2020, of the Policy & Resources Committee, they are of the opinion:-
1. To agree that a statutory scheme should be established which will require the transfer of balances in dormant bank accounts from banks in the Bailiwick to a statutory central fund called the Bailiwick Dormant Accounts Fund (the "BDAF") as set out in the Policy Letter entitled "Use of Money in Dormant Accounts", dated 2nd December.
2. To agree that the Policy & Resources Committee should have the power to make distributions to good causes within the Bailiwick, or to a grant giving body for onward distribution to good causes within the Bailiwick, and should be responsible for setting out policies and procedures for distributions from the BDAF.
3. To direct the preparation of such legislation as may be necessary to give effect to the above decisions and the proposals in the policy letter entitled "Use of Money in Dormant Accounts, dated 2nd December 2020.
The above Propositions have been submitted to Her Majesty's Procureur for advice on any legal or constitutional implications in accordance with Rule 4(1) of the Rules of Procedure of the States of Deliberation and their Committees.
