Ó Cuív proposes new rules for unclaimed safe deposit boxes and ones of historical importance

Published on: 19 April 2023

The Safe Deposit Boxes and Related Deposits Bill will be before the Dáil tomorrow evening for second stage debate.
The Bill which is sponsored by Fianna Fáil  TD for Galway West, Éamon Ó'Cuív,  proposes to open the safe deposit boxes in banks starting with the old deposits and examining them with a view to the creation of a property register.
Ahead of the debate, Deputy Ó'Cuív said, "The first Irish banks opened in Ireland at the end of the eighteenth century and since then many banks have held safe deposit boxes. It is believed these boxes, many of which are unclaimed, could hold items of historical interest.
"In the event of no owner being identified, my Bill proposes that those of historical interest should be transferred to the National Museum of Ireland while any cash not claimed should be lodged into the Dormant Accounts Fund. This bill set out the legal framework under which this can be done safeguarding property rights but also acting in the interests of the common good.''
Deputy Ó Cuív concluded by saying that "All safe deposits will be recorded in chronological order and no safe deposit box held by a bank for less than 80 years will be opened.”