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
ARRANGEMENT OF SECTIONS
Preliminary and General
Section
1.
Short title, collective citation and commencement.
2.
3.
4.
5.
Unclaimed Policies
Application of Act
6.
7.
Extension of application of Act.
Notice Procedure
8.
9.
Transfer of Moneys to Dormant Accounts Fund
10.
11.
Prohibition on transfer of moneys under section 10.
12.
Register of unclaimed policies.
13.
Disclosure of information for statistical purposes.
14.
Processing of Claims under Unclaimed Policies
15.
16.
Processing of claims where insurance undertaking is wound up, etc.
Compliance with Act
Certificate of Compliance
17.
Inspections
18.
19.
20.
21.
22.
23.
24.
Disclosure of information to inspector.
25.
Miscellaneous
26.
27.
Part A of Annex I to the Life Regulations of 1994
Amendments to Act of 2001
Acts Referred to
Data Protection Act 1988
Dormant Accounts Act 2001
Equal Status Act 2000
European Communities (Amendment) Act 1993
European Communities Act 1972
Insurance Act 1989
Insurance Acts 1909 to 2000
Organisation of Working Time Act 1997
Pensions (Amendment) Act 2002
Petty Sessions (Ireland) Act 1851
14 & 15 Vict., c. 93
Powers of Attorney Act 1996
Taxes Consolidation Act 1997
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. [22nd 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.