Isle of Man to follow in footsteps of UK?
Charities could benefit from new rules which would allow government to seize money held in unused bank accounts.
Treasury has proposed changes in the law on dormant assets - accounts which have not been touched in more than 15 years, and whose owners cannot be traced.
In the UK, Jersey and Guernsey, dormant assets can be funnelled back into the economy, but no such regulations exist here.
Arbory, Castletown and Malew MHK Jason Moorhouse raised the subject in the House of Keys this morning.
He believes stagnant cash could be put to good use.
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