INVESTMENT OF SUITORS' MONEYS ACT

ARRANGEMENT OF SECTIONS

   1   Short title

   2   Supreme Court or a Judge thereof may direct that money standing to credit of any suit shall be invested

   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

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THE INVESTMENT OF SUITORS' MONEYS ACT

[Date of Commencement: 7th March, 1872]

Cap 167.

1   Short title

   This Act may be cited as the Investment of Suitors' Moneys Act.

2   Supreme Court or a Judge thereof may direct that money standing to credit of any suit shall be invested

   After the passing of this Act it shall be lawful for the Supreme Court, or a Judge thereof, at Chambers, to direct that any money paid into or under the control of the Court, or any money which is now or hereafter may be standing to the credit of any suit or party in the books of 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 relating to Chancery deposits to the contrary notwithstanding.

3   Investment to be made to credit of whom money belongs

   Such investment shall be made by the Accountant-General to the credit of the suit or parties to which such money belongs; or in such other manner as may be deducted by the Court or Judge at Chambers.

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