Administration of Justice Act 1965

6 Mode in which money in Supreme Court may be dealt with.

(1) Save in a case in which it is provided by an order of the court that it shall not be placed or invested as mentioned in the following provisions of this subsection, and subject to any provision to the contrary made by rules made under the next following section, a sum of money in the Supreme Court (not being a sum the subject of an order under section 174 of the [1959 c. 22.] County Courts Act 1959 or a sum under the control of the mental health authority)—

(a) may, if the court so orders, be dealt with in such of the following ways as may be specified in the order, namely:—

(i) it may be placed, in accordance with rules so made, to a deposit account or a short-term investment account (that is to say, to an account of one or other of two kinds such that, in the case of an account of either kind, there will, under rules so made, but subject to any exceptions thereby prescribed, fall to accrue on moneys placed thereto interest derived from the transfer to, and investment by, the Commissioners of the moneys placed to all the accounts of those kinds);

(ii) it may be placed to a long-term investment account for transfer, under rules so made, to such one of the funds established by common investment schemes as may be so specified ;

(iii) it may be invested by the Accountant General in such of the securities designated for the purposes of this paragraph by rules made under section 99 of the [1925 c. 49.] Supreme Court of Judicature (Consolidation) Act 1925 as may be so specified;

(b) shall, if no order is made with respect to it under the foregoing paragraph, be dealt with as follows:—

(i) except in a case in which it was paid in under section 63(1) of the [1925 c. 19.] Trustee Act 1925, it shall be placed, in accordance with rules made under the next following section, to a deposit account;

(ii) in the said excepted case, it shall be invested by the Accountant General in such manner as may be prescribed by rules so made.

(2) Save in a case in which it is provided by an order of the mental health authority that it shall not be placed or invested as mentioned in the following provisions of this subsection, and subject to any provision to the contrary made by rules made under the next following section, a sum of money in the Supreme Court that is under the control of the mental health authority—

(a) may, if that authority so orders, be dealt with in such of the following ways as may be specified in the order, namely:—

(i) it may be placed to a deposit account or a short-term investment account;

(ii) it may be placed to a long-term investment account for transfer, under rules so made, to such one of the funds established by common investment schemes as may be so specified ;

(iii) it may be invested by the Accountant General in any such security as may be so specified ;

(b) shall, if no order is made with respect to it under the foregoing paragraph, be placed, in accordance with rules so made, to a deposit account.