Explanatory note

(This note is not part of the Regulations)

These Regulations amend the Charities (Dormant Accounts) (Scotland) Regulations 1995 (“the principal Regulations”).

The Regulations–

(a)

prescribe the National Savings Bank and a municipal bank for the purpose of section 12(13)(iii) of the Law Reform (Miscellaneous Provisions) Act 1990. This will enable the Scottish charities nominee (“the nominee”) to receive information from those institutions in relation to the dormant accounts of Scottish charities (regulation 2);

(b)

amend regulation 7 of the principal Regulations so as to provide that the nominee only requires to publish notice in a newspaper of his proposal to transfer the balances standing to the credit in the accounts of a dormant Scottish charity to another Scottish charity if the aggregate amount in those accounts exceeds £500 (regulation 3);

(c)

provide that where the nominee has not published notice in a newspaper and it appears to him that the aggregate amount standing to the credit of the accounts of the dormant Scottish charity exceeds £500, he must then publish notice of his proposal in a newspaper (regulation 4);

(d)

amend regulation 9 of the principal Regulations so as to provide that where the nominee decides to alter his original proposal–

(i)

the procedure set out in regulation 9 applies whether the decision was made as a consequence of any representations received or otherwise (regulation 5(a)); and

(ii)

the nominee only requires to publish notice of his decision in a newspaper if he has already published notice of his original proposal in a newspaper (regulation 5(b)).