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Realisation of investment of dormant account of funds of suitors of Circuit Court and dormant funds of suitors of District Court
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53. The Act of 2004 is amended by the insertion of the following section after section 34:
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“34A. (1) The Chief Justice shall, as soon as may be after the commencement of section 53 of the Courts and Civil Law (Miscellaneous Provisions) Act 2023, order the Accountant to realise all of the investments of—
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(a) the dormant account of the funds of suitors of the Circuit Court, and
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(b) the dormant funds of suitors of the District Court.
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(2) The Chief Justice shall, not later than 3 months after—
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(a) the expiration of 5 years from the making of an order under subsection (1), and
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(b) the expiration of each subsequent period of 5 years from the date on which an order under this section is made,
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order the Accountant to realise all of the investments of—
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(i) the dormant account of the funds of suitors of the Circuit Court, and
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(ii) the dormant funds of suitors of the District Court.
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(3) The Accountant shall comply with an order of the Chief Justice under this section.
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(4) In this section, ‘investments’ means, in relation to the dormant account of the funds of suitors, assets other than cash.”.
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