{"id":68433,"date":"2016-03-10T12:10:00","date_gmt":"2016-03-10T12:10:00","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=8af4629b23762e1e9e39662c7f64f423"},"modified":"2016-03-10T12:10:00","modified_gmt":"2016-03-10T12:10:00","slug":"press-release-dormant-assets-commission-new-commissioners-announced","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=68433","title":{"rendered":"Press release: Dormant Assets Commission: new commissioners announced"},"content":{"rendered":"
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The chair of the new Dormant Assets Commission<\/a>, Nick O\u2019Donohoe, has today announced that 8 new commissioners will help unlock as much as \u00a31 billion in funding for good causes.<\/p>\n

The commissioners, who have backgrounds in banking, investment management, insurance and professional services, will be tasked with unlocking huge sums of money for the charity sector. They are renowned experts within their fields and will provide an exceptional breadth and depth of experience. <\/p>\n

Their expertise will help the Commission to work with industry to identify new pools of unclaimed assets, which can include stocks, shares, pensions and bonds, and put the assets towards charitable causes.<\/p>\n

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Read the Commission\u2019s terms of reference<\/a>.<\/p>\n<\/div>\n

The Dormant Assets Commission will build on the success of the current Dormant Accounts Scheme where banks and building societies contribute accounts that have been untouched for 15 years to good causes.<\/p>\n

Since the Dormant Accounts Scheme started in 2008, more than \u00a3850 million worth of dormant accounts have been volunteered by banks and building societies. <\/p>\n

The Commission\u2019s examination of how to unlock further assets offers the possibility of over \u00a31 billion that could, in the future, help to revolutionise the way charities and the voluntary sector is funded.<\/p>\n

The Commission will report to government by the end of 2016.<\/p>\n

These strategies show the strength of our ambition for this sector, ensuring that more and more people are using their money to transform lives and encourage economic growth. <\/p>\n

Minister for Civil Society, Rob Wilson said:<\/p>\n

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The creation of the Dormant Asset Commission demonstrates that this government has ambitious plans to reform and improve the sector, enabling us to build an even more caring and compassionate country.<\/p>\n

Thanks to this Commission, dormant assets which may otherwise have sat gathering dust will make a real difference to people\u2019s lives. I have no doubt that Nick and the new commissioners are going to present a cast iron plan to help charities in the years ahead.<\/p>\n<\/blockquote>\n

Chair of the Dormant Assets Commission, Nick O\u2019Donohoe said:<\/p>\n

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Dormant Bank and Building Society accounts have already released \u00a3850 million which will help the voluntary sector address key social issues in the UK.<\/p>\n

The newly launched Commission on Dormant Assets has the opportunity to build on that success by identifying further sources of unclaimed assets. Each commissioner brings valuable experience and insight which will ensure that no stone is left unturned in the search for additional sources of funding for good causes.<\/p>\n<\/blockquote>\n

The Commission<\/h2>\n

Chair: Nick O\u2019Donohoe<\/a>, former Chief Executive of Big Society Capital<\/p>\n

Commissioners<\/h3>\n