1973 Ed.]
District Court Suitors' Funds Rules
[CAP. 336
15. 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.
INVESTMENT OF FUNDS LODGED
E 7
[Subsidiary]
Carrying over of funds to separate account.
Power of
16. (1) The Registrar may, unless an order directs otherwise, invest any money lodged in court on any ledger credit in such manner as he thinks fit and may vary at any time such investments.
(2) Subject to paragraph (3), if the Registrar invests any money lodged in court on any ledger credit, any dividend or interest received on such investments, or any principal money received in respect thereof, by the Registrar shall be-
(a) paid into the District Court Suitors' Funds Account; and (b) placed in his books to the credit of the account in which the investments were standing when the dividend or interest became due or when the principal money was received.
(3) No interest shall be credited to any money lodged in court on any ledger credit if-
(a) such money is paid in court as security for costs or by way of satisfaction or amends or in compliance with an order giving leave to defend upon such payments; or
(b) the amount is less than $2,500.
(4) Notwithstanding paragraphs (1), (2) and (3) and unless an order directs otherwise, interest shall be payable at such rate as the Registrar shall determine, on any money lodged in court on any ledger credit if the money is compensation payable under the Workmen's Compensation Ordinance, and the Registrar may vary such rate of interest at such interval as he thinks fit.
(5) Interest on any money lodged in court shall not be computed on a fraction of one dollar.
(6) The Registrar shall not be required to apportion any amount of interest payable or money lodged in court on any ledger credit.
17. The Registrar shall pay into the Treasury as soon as is practicable after the end of each financial year any sum standing in the District Court Suitors' Funds Account over and above the amounts required by these rules to be credited to the various accounts, and such sum shall be transferred into the general revenue of Hong Kong.
18. The cost of administrating the various accounts required to be kept under these rules shall be defrayed out of the general revenue of Hong Kong.
invest funds.
(Cap. 282.)
Surplus income.
Cost of administrating Suitors' Funds Account.
1973 Ed.]
District Court Suitors' Funds Rules
[CAP. 336
15. 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.
INVESTMENT OF FUNDS LODGED
E 7
[Subsidiary]
Carrying over
of funds to separate account.
Power of
16. (1) The Registrar may, unless an order directs otherwise, invest any money lodged in court on any ledger credit in such Registrar to manner as he thinks fit and may vary at any time such investments.
(2) Subject to paragraph (3), if the Registrar invests any money lodged in court on any ledger credit, any dividend or interest received on such investments, or any principal money received in respect thereof, by the Registrar shall be-
(a) paid into the District Court Suitors' Funds Account; and (b) placed in his books to the credit of the account in which the investments were standing when the dividend or interest became due or when the principal money was received.
(3) No interest shall be credited to any money lodged in court on any ledger credit if-
(a) such money is paid in court as security for costs or by way of satisfaction or amends or in compliance with an order giving leave to defend upon such payments; or
(b) the amount is less than $2,500.
(4) Nothwithstanding paragraphs (1), (2) and (3) and unless Fan order directs otherwise, interest shall be payable at such rate as the Registrar shall determine, on any money lodged in court on any ledger credit if the money is compensation payable under the Workmen's Compensation Ordinance, and the Registrar may vary such rate of interest at such interval as he thinks fit.
(5) Interest on any money lodged in court shall not be com- puted on a fraction of one dollar.
(6) The Registrar shall not be required to apportion any amount of interest payable or money lodged in court on any ledger credit.
17. The Registrar shall pay into the Treasury as soon as is practicable after the end of each financial year any sum standing in the District Court Suitors' Funds Account over and above the amounts required by these rules to be credited to the various accounts, and such sum shall be transferred into the general revenue of Hong Kong.
18. The cost of administrating the various accounts required to be kept under these rules shall be defrayed out of the general revenue of Hong Kong.
invest funds.
(Cap. 282.)
Surplus income.
Cost of administrating Suitors' Funds Account.
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