Unclaimed Life Assurance Policies Act 2003


Number 2 of 2003


UNCLAIMED LIFE ASSURANCE POLICIES ACT 2003

REVISED

Updated to 30 October 2021


This Revised Act is an administrative consolidation of the Unclaimed Life Assurance Policies Act 2003. It is prepared by the Law Reform Commission in accordance with its function under the Law Reform Commission Act 1975 (3/1975) to keep the law under review and to undertake revision and consolidation of statute law.

All Acts up to and including the Climate Action and Low Carbon Development (Amendment) Act 2021 (32/2021), enacted 23 July 2021, and all statutory instruments up to and including the Health Act 1947 (Section 31A - Temporary Restrictions) (Covid - 19) (Restrictions Upon Travel to the State from Certain States) (No. 5) (Amendment) (No. 4) Regulations 2021 (S.I. No. 566 of 2021), made 30 October 2021, were considered in the preparation of this Revised Act.

Disclaimer: While every care has been taken in the preparation of this Revised Act, the Law Reform Commission can assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up to date nature of the information provided and does not accept any liability whatsoever arising from any errors or omissions. Please notify any errors, omissions and comments by email to

revisedacts@lawreform.ie.


Number 2 of 2003


UNCLAIMED LIFE ASSURANCE POLICIES ACT 2003

REVISED

Updated to 30 October 2021


Introduction

This Revised Act presents the text of the Act as it has been amended since enactment, and preserves the format in which it was passed.

Related legislation

Dormant Accounts Acts 2001 to 2012 : this Act is one of a group of Acts included in this collective citation, to be construed together as one ( Dormant Accounts (Amendment) Act 2012 (23/2012), s. 15(2)). The Acts in this group are:

Dormant Accounts Act 2001 (32/2001)

Unclaimed Life Assurance Policies Act 2003 (2/2003), s. 27

Central Bank and Financial Services Authority of Ireland Act 2003 (12/2003), sch. 1 part 27

Dormant Accounts (Amendment) Act 2005 (8/2005)

Dormant Accounts (Amendment) Act 2012 (23/2012)

Annotations

This Revised Act is annotated and includes textual and non-textual amendments, statutory instruments made pursuant to the Act and previous affecting provisions.

An explanation of how to read annotations is available at

www.lawreform.ie/annotations.

Material not updated in this revision

Where other legislation is amended by this Act, those amendments may have been superseded by other amendments in other legislation, or the amended legislation may have been repealed or revoked. This information is not represented in this revision but will be reflected in a revision of the amended legislation if one is available.

Where legislation or a fragment of legislation is referred to in annotations, changes to this legislation or fragment may not be reflected in this revision but will be reflected in a revision of the legislation referred to if one is available.

A list of legislative changes to any Act, and to statutory instruments from 1972, may be found linked from the page of the Act or statutory instrument at

www.irishstatutebook.ie.

Acts which affect or previously affected this revision

Data Protection Act 2018 (7/2018)

Central Bank (Supervision and Enforcement) Act 2013 (26/2013)

Investment Funds, Companies and Miscellaneous Provisions Act 2005 (12/2005)

Central Bank Act 1942 (22/1942)

All Acts up to and including Climate Action and Low Carbon Development (Amendment) Act 2021 (32/2021), enacted 23 July 2021, were considered in the preparation of this revision.

Statutory instruments which affect or previously affected this revision

Rural Affairs (Transfer of Departmental Administration and Ministerial Functions) Order 2017 (S.I. No. 354 of 2017)

Rural Affairs and Social Enterprise (Transfer of Departmental Administration and Ministerial Functions) Order 2016 (S.I. No. 308 of 2016)

Community Affairs (Transfer of Departmental Administration and Ministerial Functions) Order 2011 (S.I. No. 196 of 2011)

Unclaimed Life Assurance Policies (Section 9) Regulations 2003 (S.I. No. 93 of 2003)

Unclaimed Life Assurance Policies Act 2003 (Commencement) Order 2003 (S.I. No. 92 of 2003)

All statutory instruments up to and including Health Act 1947 (Section 31A - Temporary Restrictions) (Covid - 19) (Restrictions Upon Travel to the State from Certain States) (No. 5) (Amendment) (No. 4) Regulations 20 2 1 (S.I. No. 566 of 2021), made 30 October 2021, were considered in the preparation of this revision.


Number 2 of 2003


UNCLAIMED LIFE ASSURANCE POLICIES ACT 2003

REVISED

Updated to 30 October 2021


ARRANGEMENT OF SECTIONS

PART 1

Preliminary and General


Acts Referred to

Data Protection Act 1988

1988, No. 25

Dormant Accounts Act 2001

2001, No. 32

Equal Status Act 2000

2000, No. 8

European Communities (Amendment) Act 1993

1993, No. 25

European Communities Act 1972

1972, No. 27

Insurance Act 1989

1989, No. 3

Insurance Acts 1909 to 2000

Organisation of Working Time Act 1997

1997, No. 20

Pensions (Amendment) Act 2002

2002, No. 18

Petty Sessions (Ireland) Act 1851

14 & 15 Vict., c. 93

Powers of Attorney Act 1996

1996, No. 12

Taxes Consolidation Act 1997

1997, No. 39



Number 2 of 2003


UNCLAIMED LIFE ASSURANCE POLICIES ACT 2003

REVISED

Updated to 30 October 2021


AN ACT TO PROVIDE FOR THE TRANSFER OF MONEYS PAYABLE UNDER UNCLAIMED LIFE ASSURANCE POLICIES TO THE DORMANT ACCOUNTS FUND ESTABLISHED UNDER THE DORMANT ACCOUNTS ACT 2001, TO PROVIDE FOR THE PAYMENT OF MONEYS FROM THE FUND, TO PROVIDE FOR THE APPOINTMENT OF INSPECTORS, AND FOR THOSE AND OTHER PURPOSES TO AMEND AND EXTEND THE DORMANT ACCOUNTS ACT 2001 AND TO PROVIDE FOR RELATED MATTERS. [22 nd February 2003]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Annotations:

Modifications (not altering text):

C1

Functions transferred and references to “Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs” and “Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs” construed (26.07.2017) by Rural Affairs (Transfer of Departmental Administration and Ministerial Functions) Order 2017 (S.I. No. 354 of 2017), arts. 2 and 3, in effect as per art. 1(2), subject to transitional provisions in arts. 4-8.

2. (1) The administration and business in connection with the exercise, performance or execution of any functions transferred by Article 3 are transferred to the Department of Rural and Community Development.

3. (1) The functions vested in the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs—

(a) by or under— …

(iii) the Unclaimed Life Assurance Policies Act 2003 (No. 2 of 2003)

...

are transferred to the Minister for Rural and Community Development.

(2) References to the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs contained in any Act or instrument made thereunder and relating to the functions transferred by this Article shall, from the commencement of this Order, be construed as references to the Minister for Rural and Community Development.

...

Editorial Notes:

E1

Act included in definition of “designated enactments” by Central Bank Act 1942 (22/1942), s. 2(1) and sch. 2 part 1 item 30, as substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 14(1) and sch. 1 part 1 items 6 and 82, S.I. No. 469 of 2010.

E2

Previous affecting provision: Act included in definition of “designated enactments and designated statutory instruments” by Central Bank Act 1942 (22/1942), s. 33AN and sch. 2 as inserted (30.06.2005) by Investment Funds, Companies and Miscellaneous Provisions Act 2005 (12/2005), s. 87(1)(c), S.I. No. 323 of 2005; schedule substituted as per E-note above.

E3

Previous affecting provision: functions transferred and references to “Department of the Environment, Community and Local Government” and “Minister for the Environment, Community and Local Government” construed (9.06.2016) by Rural Affairs and Social Enterprise (Transfer of Departmental Administration and Ministerial Functions) Order 2016 (S.I. No. 308 of 2016), arts. 2 and 3, in effect as per art. 1(2), subject to transitional provisions in arts. 4-8; superseded as per C-note above.

E4

Previous affecting provision: functions transferred and references to “Department of  Community, Equality and Gaeltacht Affairs” and “Minister for  Community, Equality and Gaeltacht Affairs” construed (1.05.2011) by Community Affairs (Transfer of Departmental Administration and Ministerial Functions) Order 2011 (S.I. No. 196 of 2011), arts. 2 and 3, in effect as per art. 1(2), subject to transitional provisions in arts. 4-8; superseded as per E-note above.