County Court Rules (Northern Ireland) 1981

ORDER 45 Funds in Court

PART I ACCOUNTS

County Court Bank

1.—(1) Subject to paragraph (2) and to Court Funds Rules, the county court for each division shall have a Civil Bill Account, a Criminal Injuries Account and a Security for Costs Account at such bank as the Lord Chancellor may, with the concurrence of the Treasury, designate.

(2) Where a chief clerk acts for more than one division of the county court, only one Civil Bill Account, one Criminal Injuries Account and one Security for Costs Account may, unless the Lord Chancellor otherwise directs, be kept for those divisions.

PART II INVESTMENT OF MONEYS PAID INTO-COURT

Investment

2.—(1) Moneys paid into court shall be invested in the official name of the Accountant General in such of the following securities as may be directed by the judge—

(a) securities issued by Her Majesty's Government in the United Kingdom, the Government of Northern Ireland or the Government of the Isle of Man, being fixed-interest securities registered in the United Kingdom or the Isle of Man, Treasury Bills or Tax Reserve certificates;

(b) any securities the payment of interest on which is guaranteed by Her Majesty's Government in the United Kingdom or the Government of Northern Ireland;

(c) fixed interest securities issued in the United Kingdom by the International Bank for Reconstruction and Development, being securities registered in the United Kingdom;

(d) loans to any authority to which this paragraph applies charged on all or any of the revenues of the authority or on a fond into which all or any of those revenues are payable, in any fixed-interest securities issued in the United Kingdom by any such authority for the purpose of borrowing money so charged, and in deposits with any such authority by way of temporary loan made on the giving of a receipt by the treasurer or other similar officer of the authority, and in consideration of an undertaking to charge the loan as aforesaid.

This paragraph applies to the following authorities, that is to say:—

(i) any local authority in the United Kingdom;

(ii) any authority all the members of which ate appointed or elected by one or more local authorities in the United Kingdom.

Pending or in lieu of such investment, moneys so paid in may be lodged on deposit receipt in any joint stock bank in Northern Ireland or lodged in a trustee savings or in the National Savings Bank.

Interpretation

4.  In this Part, the expression—

“debenture” includes debenture stock and bonds, whether constituting a charge on assets or not;

“fixed-interest securities” means securities which under their terms of issue bear a fixed rate of interest;

“local authority” means any of the following authorities—

(a)

in Northern Ireland, the council of a district;

(b)

in England and Wales, a local authority within the meaning of the Local Government Act 1972(1), and the council of the Isles of Scilly;

(c)

in Scotland, a local authority within the meaning of the Local Government (Scotland) Act 1973(2),

“securities” includes shares, debentures; Treasury Bills and Tax Reserve Certificates;

“share” includes stock;

“Treasury Bills” includes Exchequer Bills and other bills issued by Her Majesty's Government in the United Kingdom.

PART III PAYMENT OUT AND TRANSFER OF MONEYS, DIVIDENDS, INCOME, SECURITIES AND OTHER EFFECTS

Application for payment out, etc.

4.  Where a person desires to apply to the court for the investment or payment out of any money or securities paid into court, the following provisions shall apply—

(a) the application shall be made to the judge ex parte;

(b) the judge on the hearing of the application may require notice of the application to be served on such persons as he thinks fit, and fix a day for the further hearing;

(c) evidence in support of the application may be given by affidavit or in such other manner as the judge may direct.

Payment of moneys, dividends and income

5.—(1) In respect of any moneys paid into court or investments of such moneys, the judge may from time to time direct to whom and at what time or times any such moneys; or the dividends or income of any such investments, shall be payable and may vary such order as occasion may require.

(2) The judge may direct the transfer of such investments to such persons as may be decided to be entitled thereto.

(3) Money, securities and other effects paid into or deposited in court shall not, except as otherwise provided in Order 21, Rule 3, or court Funds Rules, be paid out or transferred except upon an order made by the judge.

Parts II and III not to apply to Criminal Injuries Account

6.  Parts II and III of this Order shall not apply to moneys lodged to the credit of the Criminal Injuries Account.

(1)

1972 c. 70

(2)

1973 c. 65