Sunday 16 September 2018

Charity fund hits £5 million - how will this be distributed?

Charity fund hits £5 million - how will this be distributed?

NEARLY £5 million has been collected from disused Jersey bank accounts over the last year. It will be used to pay for the Charities Commissioner and also be donated to local causes.

https://jerseyeveningpost.com/news/2018/09/15/charity-fund-hits-5-million/

The Jersey Reclaim Fund was established last year by the Dormant Bank Accounts (Jersey) Law, which was championed by former Senator Philip Ozouf, allowing funds to be collected from bank accounts where there has been no customer contact for more than 15 years.

A response to a written question published by Deputy Kevin Pamplin has revealed that more than £4.8 million has already been collected into the fund.

‘As at 31 August 2018, the sum of £4,876,650.53 was held in the Jersey Reclaim Fund. No claims for the return of moneys have been received from any bank since the inception of the fund,’ it says.

‘As at 31 August 2018, the only sum in respect of expenses deducted from the fund is the sum of £1,316 in respect of investment management and bank charges.’

Jersey’s first Charities Commissioner, John Mills, was appointed last year. One of his earliest priorities has been the establishment of a public register of Jersey charities.

I note to be donated to local causes - I wonder what the criteria and mechanism are for Charities Commissioner, John Mills to distribute these funds?

There is nothing obvious on their website https://charitycommissioner.je/


Feedback and comments always welcome

TimHJRogers
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TimHJRogers World Champs Rower, Commonwealth Games Triathlete, MBA (Management Consulting) Projects & Change Practitioner, TEDx & Jersey Policy Forum


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