A BILL THAT would see very old safe deposit boxes in banks opened will be debated at second stage in the Dáil this evening.
The Safe Deposit Boxes and Related Deposits Bill 2022 proposes opening safe deposit boxes in banks, starting with the oldest deposits, and examining them with a view to creating a property register.
If passed, it could potentially lead to important items of historical interest being displayed in museums.
The Bill has been brought forward by Fianna Fáil TD Éamon Ó Cúiv.
Under the provisions of the Bill, the bank would attempt to identify the owner of unclaimed deposit boxes that have been held by the bank for no less than 80 years.
If no one is identified after six months, the Bill proposes that the contents of the safe deposit box be inspected on behalf of the State.
Items of historical interest would then be transferred to the National Museum of Ireland, while any cash not claimed would be lodged into the Dormant Accounts Fund.
Speaking on RTÉ’s Morning Ireland, Ó Cúiv said people have been using safe deposit boxes in Ireland since 1782, when the first bank was set up in the State.
“We believe, and we have reasonably good evidence of what could be in these: cash, weapons of war memorabilia, antiques, paintings, jewelry, title deeds, papers of all kinds, letters. You could find anything in there. We don’t know. It’s a treasure trove,” he said.
“We know that for various security reasons and so on, some boxes were opened and my understanding is that there are quite interesting finds in them.
“The Bill provides that nothing would ever be opened – ever – unless it was lying there for 80 years. If people are say a minimum of 20 years putting stuff in deposit boxes, the person would be over 100 by the time it would be opened.”
Ó Cúiv said the first obligation of the banks would be to identify the owner of the property.
“In the case that they can’t identify anybody who’s got an interest, then they have to put out a public notice, which is there for six months. This is done in very, very careful stages,” he said.
“If nobody has come forward at that stage, then they actually open the contents.”
This would be done by independent auditors, he added.
“Everything is supervised through every stage. What they then have to do is notify the National Museum on behalf of the State, and it would be the National Museum that will look at it and decide whether it’s of national interest or not.”
He said items of interest would then be put on display. However, even after this, if someone came forward that could prove that they were entitled to the item, it would be returned to them.
“If there are long lost family heirlooms, the first thing is to try find you, but if after all of this long process, you still could make a claim, then you are entitled to it. It is your possession.”
Ó Cúiv said he understands that there is “very broad support” across the Dáil for the Bill.
He said if it passes the second stage today, it will be debated in detail at the Social Welfare Community and Rural Committee, which deals with dormant accounts.
“All of these provisions you’ve been asked me about would be subject to public debate, line by line, in the Bill,” he said.
“Nothing will happen in a hurry, but we hope that progress will be made on this Bill because I think there are exciting, exciting prospects out of this Bill.”
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