35 1963

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Number 35 of 1963.


FUNDS OF SUITORS ACT, 1963.


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Disposal of part of funds of suitors.

3.

Deficiency in funds of suitors.

4.

Short title.


Act Referred to

Central Fund Act, 1956

1956, No. 12

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Number 35 of 1963.


FUNDS OF SUITORS ACT, 1963.


AN ACT TO PROVIDE FOR DISPOSAL OF PART OF THE FUNDS OF SUITORS VESTED IN THE ACCOUNTANT OF THE COURTS OF JUSTICE. [24th December, 1963.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Interpretation.

1. —In this Act—

the account” means the general cash account of the funds of suitors which stands in the books of the Bank of Ireland in the name of the Accountant of the Courts of Justice;

the funds of suitors” means the funds of suitors vested in the Accountant of the Courts of Justice;

the Minister” means the Minister for Finance.

Disposal of part of funds of suitors.

2. —(1) The Bank of Ireland shall, upon the order of the Chief Justice, pay out of the account to the Capital Fund such sums, not exceeding £50,000 in the aggregate, as the Minister requires from time to time.

(2) Notwithstanding anything contained in subsection (4) of section 4 of the Central Fund Act, 1956 , the Capital Fund may, to the extent to which it represents the sums paid to it pursuant to this section, be applied towards the rebuilding of the Opera House. Cork.

Deficiency in funds of suitors.

3. —If it happens that the funds of suitors are at any time reduced to a sum not sufficient to meet the demands upon them, the Minister so as to afford a complete indemnity to suitors for any loss which they might sustain by reason of the passing of this Act, shall advance out of the Central Fund or the growing produce thereof such sum as he may think necessary, not exceeding £50,000.

Short title.

4. —This Act may be cited as the Funds of Suitors Act, 1963.