Dormant Bank and Building Society Accounts Act 2008
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Long titleAn Act to make provision for, and in connection with, using money from dormant bank and building society accounts for social or environmental purposes.
Introduced byLord Davies of Oldham[1] (Lords)
Territorial extent[b]
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The Dormant Bank and Building Society Accounts Act 2008 (c. 31) is an act of the Parliament of the United Kingdom.
It authorises the distribution, by the Big Lottery Fund, of assets from cash accounts that are considered dormant.[2] A bank account is considered dormant if it has not been accessed in 15 years.[2]
Commencement
Further developments
The legislation became part of the Big Society policy under the Cameron-Clegg coalition.[5]
Charities to have received funding under the act include Age UK, Harrogate Skills 4 Living Centre and Harry Specters.[6]
As of August 2024[update], the scheme has released £745,000,000.[7]
