Air Navigation and Transport Act, 1936

Payment of judgment debts out of deposit.

31.—(1) In this section—

the word “deposit” means a deposit of money or securities in lieu of money made with the Accountant of the Courts of Justice under this Chapter of this Part of this Act by way of qualification for being an exempted person;

the word “depositor” means a person who has made a deposit.

(2) Where a person (in this section referred to as a judgment creditor) has recovered judgment in any court against a depositor for a sum to which this section applies the High Court may, on the application in a summary manner of the judgment creditor and if satisfied that the depositor has no goods which can be taken in execution to satisfy such judgment, order the amount of such judgment together with the costs of such order, the application therefor and the proceedings thereunder to be paid to the judgment creditor out of the deposit maintained by such depositor.

(3) Whenever the High Court makes an order under the immediately preceding sub-section in respect of a deposit the Accountant of the Courts of Justice shall pay the money stated in such order to the judgment creditor specified in such order out of such deposit and shall for that purpose sell so much of the investments representing such deposit as is necessary (after defraying the costs of such sale) to enable such money to be paid.

(4) Whenever the Accountant of the Courts of Justice, in pursuance of an order made by a court under this section, pays any money out of or sells any of the investments representing a deposit maintained with him by a depositor in pursuance of this Part of this Act, he shall forthwith calculate and ascertain the market value of so much of the investments representing such deposit as remains unsold and, if such market value together with any uninvested money included in such deposit falls short of the full proper amount of such deposit, he shall give to the Minister and such depositor notice in writing of such deficiency and of the amount thereof.

(5) If, when a notice of deficiency of deposit is given to a depositor by the Accountant of the Courts of Justice in pursuance of the immediately preceding sub-section such depositor, not more than fourteen days after receiving such notice, deposits with the Accountant of the Courts of Justice a sum equal to the amount of the deficiency stated in such notice, the sum so deposited shall be added to and treated as part of the said deposit and such depositor shall be deemed to have maintained such deposit at its full proper amount.

(6) Whenever a depositor, if an individual, becomes bankrupt or insolvent or dies or, if a corporate body, is wound up or, if a partnership or other unincorporated association, is dissolved, the deposit made by such depositor shall be applicable in the first instance to payment only of the liabilities of the depositor for sums to which this section applies and when all such liabilities of such depositor have been discharged in full shall be applicable as general assets of the depositor.

(7) This section applies to any sum awarded against a depositor as damages in respect of damage or loss caused to persons or property on land or water by, or by a person in, or an article or person falling from, an aircraft, owned by such depositor, while in flight, taking off or landing.