The Court Funds Rules 1987

Unclaimed funds

57.—(1) Subject to the provisions of this rule, the Accountant General may carry over an unclaimed fund in court to an account of unclaimed balances when five years have elapsed since an account was opened for the fund.

(2) Subject to paragraph (3), a fund shall be treated as unclaimed if:—

(i) it stands to the credit of an account which has not been dealt with for a period of five years otherwise than by the continuous investment or placing on deposit of accrued interest, the compulsory conversion, redemption or acquisition of securities or the placing on deposit of any money arising therefrom; and

(ii) the Accountant General is satisfied that all reasonable steps have been taken to trace the person entitled to it and to pay it to him.

(3) Where a fund was lodged in court for the benefit of a minor, the period of five years mentioned in paragraph 2(i) shall not begin to run until the minor’s 18th birthday, or, if his date of birth is not known, until 18 years have elapsed since the account was opened.

(4) Where the person entitled to a fund was a patient, the Accountant General may at any time, if so requested by the proper officer of the Court of Protection, and provided he is satisfied that all reasonable steps have been taken to trace the person entitled to the fund and to pay it to him, carry the fund over to an account of unclaimed balances.

(5) In the case of a fund paid into court by the Public Trustee under the Trustee Act 1925, the Accountant General may at any time, provided he is satisfied that all reasonable steps have been taken to trace the person entitled to the fund and to pay it to him, carry the fund over to an account of unclaimed balances.

(6) On receipt of a Payment Schedule directing a dealing with a fund carried over in accordance with this rule, the Accountant General shall carry back the unclaimed balance to the appropriate account.

(7) Where a fund is carried back under paragraph (6) simple interest shall be credited to the fund in respect of the whole period during which the fund stood to an account of unclaimed balances at the rate of interest prescribed at the date when the fund is carried back, for money placed in a basic account.