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General provisions in relation to deposits under this Part of this Act.
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43.—(1) The following provisions shall apply and have effect in relation to deposits in the High Court made in pursuance of this Part of this Act, that is to say:—
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(a) every such deposit shall be under the control of the High Court and shall be made with the privity of the Accountant of the Courts of Justice;
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(b) the Accountant of the Courts of Justice shall issue free of charge on request to any person proposing to make or add to any such deposit the forms requisite for that purpose;
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(c) any such deposit may, in lieu of being made wholly in money, be made wholly or partly by the deposit of securities authorised by rules of court for the investment of moneys under the control of the High Court;
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(d) where any such deposit is made or held wholly or partly in money, such money or a specified part thereof shall, on the request and at the cost of the depositor, be invested in such securities authorised as aforesaid as the depositor shall specify;
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(e) whenever any such deposit has been made, the Accountant of the Courts of Justice shall forthwith inform the Minister of the making of such deposit, the name of the person by whom such deposit was made, and the amount of such deposit, and whenever any such deposit has been added to the said Accountant shall forthwith inform the Minister of the making of such addition and of the amount thereof;
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(f) the income derived from the securities of which any such deposit is wholly or partly composed shall be paid to the depositor;
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(g) all or any of the securities of which any such deposit is wholly or partly composed shall, at the request and cost of the depositor, be varied into other securities authorised as aforesaid specified by the depositor or be converted into money;
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(h) the depositor of any such deposit or his liquidator, personal representative, assignee, or other successor in title may at any time apply, in accordance with rules of court, for the return of such deposit or so much thereof as has not been paid out in pursuance of an order of the High Court under this Part of this Act;
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(i) where any such application for the return of a deposit has been duly made, such deposit, or so much thereof as has not been paid out as aforesaid, shall, save as is otherwise provided by this Part of this Act, be returned in accordance with such application at the expiration of six months from the receipt of such application;
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(j) whenever any such deposit, or so much thereof as aforesaid, has been returned in pursuance of the next preceding paragraph of this sub-section, the Accountant of the Courts of Justice shall forthwith inform the Minister of such return.
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(2) On the 2nd day of January in every year subsequent to the year next after the year in which this Act is passed the Accountant of the Courts of Justice shall, in respect of every deposit maintained in the High Court under this Part of this Act which is wholly or partially composed of securities, ascertain the total current market value of the securities comprised in such deposit and shall forthwith send by post to the depositor of such deposit notice in writing stating the amount of the said total current market value so ascertained and the amount of the money (if any) comprised in such deposit, and also stating whether the aggregate amount (in this sub-section referred to as the actual amount) of the said total current market value and the said money (if any) exceeds, equals, or falls short of the amount (in this sub-section referred to as the proper amount) of the deposit required by this Part of this Act, and, where the actual amount of the deposit exceeds or falls short of the proper amount thereof, the amount of the excess or the deficit (as the case may be), and upon such notice being so sent such (if any) of the following provisions as is or are applicable shall have effect, that is to say:—
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(a) if the actual amount, exceeds the proper amount and the depositor, on or before the 2nd day of February next after the posting of the said notice, requests the return of the excess or a specified part of the excess of the actual amount over the proper amount, a sum equal to such excess or such specified part thereof (less the cost of any requisite sale of securities) shall forthwith be returned to the depositor;
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(b) if the actual amount is less than the proper amount, the depositor may deposit in the High Court (by way of addition to the said deposit) an amount in money or in securities authorised by rules of court for the investment of moneys under the control of the High Court or partly in money and partly in such securities equal to the amount by which the actual amount falls short of the proper amount;
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(c) where, in a case to which the next preceding paragraph of this sub-section applies, the depositor makes the additional deposit authorised by that paragraph on or before the 2nd day of February next after the posting of the said notice, the depositor shall be deemed to have maintained the deposit at the proper amount, but where, in any such case, the depositor fails to make such additional deposit on or before the said 2nd day of February the Accountant of the Courts of Justice shall forthwith inform the Minister of such failure.
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(3) Rules of court may provide for all or any of the following things being done without an order of the High Court, that is to say:—
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(a) the making of deposits under this Part of this Act and of additions to such deposits;
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(b) the investment of money comprised in any such deposit;
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(c) the payment to a depositor of the income derived from securities comprised in his deposit;
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(d) the variation of all or any of the securities comprised in any such, deposit;
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(e) the return under this section of any such deposit or part of any such deposit to the depositor.
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