(1) Subject to subsections (2) and (3), if a transaction is not effected on a dormant account on or before the date specified in section 10 (1) (c) or 11(2) (c), as the case may be, the institution at which the account is held shall, not later than 30 April next following, transfer to the Fund the moneys in the dormant account and the first such transfer shall take place not later than 30 April 2003.

(2) Where dormant accounts to which subsection (1) applies are held at a building society specified in paragraph (b) of Part 1 of the Schedule, the amount transferred to the Fund shall be an amount equivalent to the total value of the building society's dormant accounts.

(3)

(a) Where dormant accounts to which subsection (1) applies are held at An Post, it shall, not later than the tenth working day after 31 March in each year, furnish a statement, in writing, to the Minister for Finance specifying -

(i) the total value of its dormant accounts, and

(ii) the total number of dormant accounts,