Road Traffic Act, 1968

Deposits by exempted persons.

55.—(1) The following section is hereby substituted for section 61 of the Principal Act:

“Deposits by exempted persons.

61. (1) The Minister may from time to time require the deposit with the Accountant of the Courts of Justice by a person desiring to become an exempted person of such sum as the Minister shall specify in such requirement.

(2) The Accountant of the Courts of Justice shall invest a sum deposited under this section in such of the securities authorised by law for the investment of funds in the High Court as the depositor directs, and the income accruing on the securities shall be paid to the depositor.

(3) The Accountant of the Courts of Justice shall not accept a deposit under this section save on a warrant of the Minister.

(4) The Minister may make rules with respect to applications for warrants for the purposes of this section, the payment of deposits and the investment thereof or dealing therewith, the deposit of stocks, shares or other securities in lieu of money, the payment of the income from time to time accruing on securities in which deposits are for the time being invested and the withdrawal and transfer of deposits.”

(2) A deposit made before the commencement of this section by a person who is an exempted person shall be deemed to have been made under section 61 (inserted by this section) of the Principal Act.