Dormant Bank and Building Society Accounts Act 2008

The Dormant Bank and Building Society Accounts Act 2008 (c 31) is an Act of the Parliament of the United Kingdom.

Dormant Bank and Building Society Accounts Act 2008^[1]

Act of Parliament
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Text of statute as originally enacted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

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

• Banks portal
• Money portal

• Building Societies Act