Bushfire Appeals
MEDIA, JOBS & RESOURCES for the COMMON GOOD
News  | 

UK Charities to Benefit from 'Unclaimed Assets'


Monday, 15th December 2008 at 1:34 pm
Staff Reporter
The British Parliament has passed a much debated new law allowing money from unclaimed assets in dormant bank accounts to be reinvested to help the wider community.

Monday, 15th December 2008
at 1:34 pm
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
UK Charities to Benefit from 'Unclaimed Assets'
Monday, 15th December 2008 at 1:34 pm

The British Parliament has passed a much debated new law allowing money from unclaimed assets in dormant bank accounts to be reinvested to help the wider community.

The Bill has been passed after more than 12 months of debate. Under the Act money from unclaimed assets would be distributed via Britain’s BIG Lottery Fund to youth services and financial capability and inclusion programs.

When the Bill was introduced into Parliament it was estimated that there is between £250 million and £350 million in banks and up to £150 million in building societies lying dormant.

The legislation allows this money to be re-invested while providing protection for consumers including a reclaim fund with industry commitment to maximise efforts to re-unite account holders with their lost accounts.

The Act can be downloaded here: http://www.opsi.gov.uk/acts/acts2008/ukpga_20080031_en_1




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Aussie Expat To Launch CharityChex in US

Staff Reporter

Monday, 6th October 2008 at 3:34 pm

HK

Staff Reporter

Thursday, 29th November 2007 at 2:12 pm

Social Capital View From Brazil

Staff Reporter

Monday, 22nd November 2004 at 12:11 pm

China Invites NGO's to Human Rights Talks

Staff Reporter

Monday, 8th November 2004 at 12:11 pm

POPULAR

NDIS not yet in tune with the needs of participants

Luke Michael

Monday, 20th January 2020 at 4:46 pm

What impact will the bushfire crisis have on homelessness?

Luke Michael

Wednesday, 15th January 2020 at 4:28 pm

The rise (and scepticism) of Facebook fundraisers

Maggie Coggan

Thursday, 16th January 2020 at 8:49 am

New fund paves the way for impact investment in the charity sector

Luke Michael

Friday, 17th January 2020 at 4:34 pm

Bushfire Appeals
pba inverse logo
Subscribe Twitter Facebook

Get the social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!