THE HONGKONG GOVERNMENT GAZETTE, 25TH APRIL, 1896.
381
(iv)--No funds shall under this Rule be paid, transferred or delivered out of Court to the legal personal representatives of any person under any probate or letters of administration purporting to be granted at any time subsequent to the expiration of two years from the date of the Order directing such payment, transfer or delivery, or in case such funds consist of interest or dividen ls from the date of the last receipt of such interest or dividends under such Order.
13. (i)-Every Order which directs funds in Court to be paid, transferred or delivered out shall set forth in full the name of every person to whom such payment, transfer or delivery is to be made unless the name is to be stated in a certificate of the Registrar. In the case of payment to a firm it shall be sufficient to state the business name of such firm.
(ii)--When money in Court is by an Order directed to be paid to any persons described in the Order or in a certificate of the Registrar as co-partners, such money may be paid to any one or more of such co-partners or to the survivor of them.
14. When funds lodged in Court are by an Order directed to be transferred or carried over to any other ledger credit than that to which the same are standing the party having the carriage of the Order shall lodge with the Treasurer a copy of the Order under the seal of the Court and the Treasurer shall act in accordance with such Order.
15. When money lodged in Court is by an Order directed to be invested the party having the carriage of the Order shall lodge at the office of the Treasurer a copy of the Order under the seal of the Court, and the Treasurer shall thereupon invest such money in the manner directed by the Order.
16. When funds in Court are by an Order directed to be dealt with otherwise than by lodgment, withdrawal, transfer or investment the party having the carriage of the Order shall lodge at the office of the Treasurer a copy of the Order under the seal of the Court, and the Treasurer shall act in accordance with such Order.
17. When funds in Court are ordered to be carried over to a separate account the title of the ledger credit to be opened for the purpose shall commence with the title of the cause or matter to which such funds are standing.
IV.-Duties of the Treasurer and Calculation of Interest.
18. Funds lodged in Court shall be entered by the Treasurer to the ledger credit mentioned in the Direction of the Registrar, and a ledger account shall be kept to which the funds lodged in Court shall be credited and the funds withdrawn or transferred therefrom debited in the usual way, and where funds in Court are dealt with in any other way than by lodgment, withdrawal, transfer or investment the same shall be entered in the account as the circumstances of the case shall require.
19. (i)-- Money lodged in Court to the credit of any account shall be deemed to be placed on deposit and shall be credited with interest at the rate of 2 per cent. per annum except in the following
cases :---
(a) When money was paid into Court before the commencement of The Suitors' Funds Ordi- nance, 1896. In such case interest will only accrue from the date of payment to the Treasurer, and subject to the provisions of Rule 21.
(b) When the money is paid into Court as security for costs or by way of satisfaction or amends or in compliance with an Order giving leave to defend upon such payment in,
or
(c) When the amount of the ledger credit is less than $100.
(ii)-Money on deposit shall be deemed to be withdrawn from deposit when the amount is reduced below $100.
20. Interest upon money on deposit shall not be computed on a fraction of $1.
21. Interest upon money on deposit shall accrue by calendar months and shall not be computed by any less period. Such interest shall begin on the first day of the calendar month next succeeding that in which the money is placed on deposit and shall cease from the last day of the calendar month next preceding the day of the withdrawal of the money from deposit.
22. Interest which has accrued for or during the half-year ending on the 30th of June and 31st of December in every year on money then on deposit shall on or before the 15th days of the months respectively following be placed by the Treasurer to the credit to which such money shall be standing on every such half-yearly day, and when money on deposit is withdrawn from deposit, the interest thereon which has accrued and has not been credited shall be placed to the credit to which the money is then standing.