Bankruptcy Act, 1988

Official Assignee—Unclaimed Dividend Account.

(1857, ss. 61, 295, 296; 1872, s. 77; 1888, c. 44; LCR, 1888, r. 125)

84.—(1) The Official Assignee shall cause to be opened in the Central Bank of Ireland an account, to be called the “Official Assignee—Unclaimed Dividend Account”, and all money and securities which, immediately before the commencement of this Act, stood to the credit of The Unclaimed Dividend Account or The Unclaimed Dividend Account, Cork, shall be carried into that Account.

(2) The Official Assignee shall pay into that Account all unclaimed dividends and all money unclaimed, being part of any bankrupt's estate.

(3) (a) The Official Assignee shall be entitled to pay out of that Account all dividends lawfully claimed as well as the sums provided for by section 61 (3) (k).

(b) In order to provide temporarily for payments for which no funds are immediately available in the particular estate against which they are chargeable, there may be paid out of that Account to the credit of the Official Assignee in a separate account in the said bank such sums, subject to such conditions, as may be prescribed.

(4) The Official Assignee, with the leave of the Court, may from time to time invest the whole or any part of the money standing to the credit of the Account, and the interest on the investments shall be paid into it.

(5) The Court may order that the Official Assignee shall be paid out of the Account such sum by way of indemnity in respect of any damages, costs or expenses payable or incurred or to be payable or incurred by him for or by reason of any act or matter done by him while acting in his official capacity as the Court thinks just, including the costs of any proceedings taken by the Official Assignee with the leave of the Court where there are insufficient funds in the matter.


(6) The Account shall not be available for any purpose other than the purposes of this section.