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Big money for communities?....last few days for consultation |
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Friday, 24 August 2007 |
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The Government has been working together with the bank and building society sector to design a scheme to allow money in dormant bank and building society accounts to be reinvested in society, while protecting consumers' rights to reclaim their money at any time. A consultation document has been issued. The document proposes using The Big Lottery Fund (BIG) as the main UK-wide unclaimed assets distribution body.
BIG has a UK-wide distribution infrastructure in place, capacity to handle assets on this scale, extensive experience of delivering community programmes and the know-how to distribute funding through a different range of organisations, particularly within the third sector.
The devolved administrations of Scotland, Wales and Northern Ireland will determine their own priorities for distribution which reflect the needs of communities in each country. You can view the document here: UK Treasury: Unclaimed assets distribution mechanism: a consultation
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