INVESTMENT OF SUITORS MONEYS 1
THE INVESTMENT OF SUITORS' MONEYS ACT
ARRANGEMENT OF SECTIONS
1. Short title.
2. Supreme Court or a Judge thereof may direct that money
3. Investment to be made to credit of whom money belongs.
4. Bank to receive money without limit as to amount.
5. Interest to be allowed on money paid into Bank, etc.
6. Money to be drawn out and paid by Accountant-General.
7. Power of Court or Judge as to Chancery deposits.
8. Discretion of Court or Judge as to investment
9. Discretion of Court or Judge to exercise powers.
10. Accountant-General's commission on Chancery deposits.
11. Accountant-General's accounts and commission.
standing to credit of any suit shall be invested.
me inclusion of this pge is authorized by L.N. 480/19731
INVESTMENT OF SUITORS MONEYS 3
THE INVESTMENT OF SUITORS’ MONEYS ACT Cap. 161.
17th March, 1872.1
1. This Act may be cited as the Investment of Suitors’ Shorttide.
2. After the passing of thii Act it shall be lawful for supreme
direct that any money paid into or under the control of the $f~$~yt
Court, or any money which is now or hereafter may be standingto
standing to the credit of any suit or party in the books of su,tshallbe
the Accountant-General, or may hereafter be paid to such
Accountant-General to the credit of any suit or parties
under any order of the Court or a Judge thereof, shall be
invested by the Accountant-General in the Workers Savings
and Loan Bank, anything contained in any enactment relat-
ing to Chancery deposits to the contrary notwithstanding.
Court or a the Supreme Court, or a Judge thereof, at Chambers, to Judge there
credit of any
3. Such investment shall be made by the Accountant- h e m e n t
to be made General to the credit of the suit or parties to which such 10 credit of
by the Court or Judge at Chambers.
money belongs; or in such other manner as may be directed
4. The Workers Savings and Loan Bank shall receive all h n t t o
money without limit as to amount that may be tendered to moneywith- ToE51VC
out limit na it under this Act. toamount.
5. Interest shall be allowed on all money paid into the rntemtto
Workers Savings and Loan Bank under this Act, in the :.$:::
same way (except that there shall be no limit as to amount) 1;2;;,
that interest would be allowed on such money if paid in
by a private person.
me inclusion of ihk page is authorized by LN. 480/1973]
a INVESTMENT OF SUITORS MONEYS
out and paid
Judge as to
of court or
Judm aa to
of Court or
6. Money invested under this Act in the Workers Savings
and Loan Bank shall be drawn out by the Accountant-
General, and paid by him in the same way that other money
of the Court is paid by him.
7. The Court, or a Judge thereof at Chambers, may
direct that any money invested under any enactment relating
to Chancery deposits shall be invested under this Act in the
Workers Savings and Loan Bank.
8. This Act shall not prevent the investment of money
in the manner specified in any enactment relating to
Chancery deposits if the Court, or a Judge thereof at
Chambers, think fit to direct that any money shall be so
invested; but without such direction no money shall be so
9. The powers given by this Act to the Court, or to a
Judge thereof, may or may not be exercised at the discretion
of such Court or Judge; and such powers shall be in
addition to any powers now possessed by the Court or Judge
10. Nothiig in this Act shall deprive the Accountant-
General of his right to the commission of two and one-
half per centurn given under any enactment relating to
Chancery deposits, in respect of money invested under any
such enactment. When money invested under any such
enactment shall be re-invested under this Act the commis-
sion to the Accountant-General shall be paid as the Court,
or the Judge at Chambers may direct, and as nearly as
may be at the same time, in the same manner, and on the
same occasions as if such money had not been so re-invested.
me inclusion of this page is authorized by LN. 480/19731
INVESTMENT OF SUITORS MONEYS 5
11. The Accountant-General shall render half-yearly to Accountant-
accounts and the Registrar of the Supreme Court a full account of all
money of the Court, whether invested under this Act or
not, showing the amount standing to the credit of each suit
or party; and the Accountant-General shall be entitled to
one per centurn on all money hereafter paid into the
Treasury on account of the Court, in consideration for his
trouble in keeping the accounts of such money.
[The inclusion of this page is authorized by L.N. 480/1973]