NOTES.

(1) For mode of payment or transfer into court. See 1 Newl. Pract. 16, 17.

For mode of depositing specific articles in the Bank, in the name of the Accountant General. See 1 Newl. Pract. 17.

(2) In interlocutory orders for payment or transfer into court, a time should be specified. See Higgins v., 8 Ves. 382.

If the order is not complied with within the time specified, a new order must be obtained.

It has been proposed to obviate this inconvenience by making the order general. See Proposition 121, subjoined to the Chancery Report.

Where, by the decree, a party is directed to pay a balance into court, retaining his costs; in case of non-compliance, he will be ordered within a limited time to bring in his bill of costs to be taxed. Newsome v. Shearman, 2 S. & S. 95.

(3) Where the order directs the payment of a specific sum, the Accountant General will not receive a less sum without a further order. Payne v. Collier, 1 Ves. jun. 171.

(4) Accountant General.

Formerly, the effects of the suitors were entrusted to the Masters and Usher of the Court; but this having been attended with abuses, orders were made directing that they should be placed in the Bank of England, to the account of the Masters and Usher, but not to be subject to their disposition, except in the manner prescribed by the orders. See Orders of 26th May and 4th of November 1725, recited in the stat. 12 Geo. 1. c. 32. Beames, 340.

By the stat. 12. Geo. 1. c. 32. s. 2. an officer (called the Accountant-General of the court of Chancery) is created for the purpose of doing all such acts relating to the delivery of the suitors' money and effects into the bank, and taking them out of the bank, and keeping accounts with the bank, and all other matters relating thereto, as are directed by the above orders to be done by the Master and Usher.

Since the passing of this act, all sums ordered to be paid into court, are directed to be paid into the bank, in the name and with the privity of the Accountant-General, and placed to the credit of the cause. See Harr. 524.

By stat. 54 Geo. 3. c. 14. property vested in the AccountantGeneral, his heirs, executors, administrators, or assigns, in respect of his office, upon his death, removal, or resignation, is vested in his successor, subject to the same trusts.

Where an act of parliament directs money to be paid into the bank in the name, and with the privity of the Accountant-General, he is bound to receive it without an order. Anon. 1 Ves. jun. 56.

(5) Sometimes the direction is for payment to a particular account, or to distinct accounts; and orders may be obtained for a transfer from one account to another.

For mode of carrying over money or stock from one account to another. See 1 Newl. Pract. 21.

No. XI.

DIRECTION FOR INVESTMENT. (1)

And it is ordered that the said sum of £—when so paid into the Bank be laid out (2) in the purchase of (3) £3 per cent. Bank annuities, in the name and with the privity of the said Accountant-General, in trust in this cause; and the said Accountant-General is to declare the trust (4) thereof accordingly, subject to the further order of this Court. And for the purposes aforesaid, the said Accountant-General is to draw (5) upon the Bank according to the form prescribed by the Act of Parliament and the general rules and orders of this Court, in that case made and provided.

For order of investment. See Hand's Pract. 228.

NOTES.

(1) For mode of investment. See 1 Newl. Pract. 18.

(2) Investment.

Money directed to be paid into court, will be invested on the application of any of the parties to the suit. See Harr. 524. The application should be made on the Accountant-General's certificate, that the money has been paid into court, and is in court. 1 Atk. 519. S. C. 1 West 580. For form of certificate. Hand's Pract. 273.

Anon.

See

The direction for investment may be made part of the original order.

Notwithstanding the direction of the order, the investment will not be made until a request has been made to the Accountant-General by the solicitor for that purpose. See 1 Turn. Pract. 245.

For form of request, see Hand's Pract. 278.

It has been proposed to do away with this practice. See Proposition 122, subjoined to the Chancery Report.

(3) Stock.

Formerly the effects of the suitors were invested in mortgages, South Sea stock, &c. But now the fund adopted by the Court for investment, is the 3 per cent consols. (created by stat. 25 Geo. 2. c. 27.) See Peat v. Carne, 2 Dick. 499. note.

Where the interest of a residue was directed by will to be paid at Lady-day and Michaelmas, the investment was ordered to be made in the 3 per cents reduced. Caldecott v. Caldecott, 4 Mad. 189.

Where the interest of a residue was directed to be paid to a tenant for life quarterly, although the dividends are only paid halfyearly, the Court will direct that the interest shall vest quarterly Forsyth v. Sivewright, Appendix (1).

(4) Declaration of Trust.

By stat. 12 Geo. 1. c. 32. s. 5. All securities taken by the direction of the court, for the benefit of suitors, are to be taken in the name of the Accountant-General, and the particular trust is to be specified in the security. And see order of 4th November, 1725, there recited. Beames, 344.

(5) Mode of Drawing.

The draft is to be limited to be paid within a month after date, and if not paid within that time, it is to be void. See order of the 4th November 1725, stat. 12. Geo. 1. c. 32. Beames, 340.

For form of draft, see Hand's Pract. 274, 275. 277.

APPENDIX (I).

Directions that Payments shall vest Quarterly

Declare that although the payment of interest of the said sums of £, &c., and of the said Bank annuities so to be purchased can only be made half-yearly, yet that the said defendant E. P. is entitled under the said testator's will to receive the interest and produce of the residue of his personal estate quarterly; and that therefore the quarterly payments of the interest and produce of the said

residue, as the same shall become due to her by virtue of such will, be vested in equity upon the several quarter days mentioned in the said testator's will. Forsyth v. Sivewright, from a MS. of Mr. Newland. Same decree. 2 Newl. Pract. 322.

No. XII.

DIRECTION FOR ACCUMULATION.

It is ordered, that the interest and dividends to accrue due on such Bank annuities when so purchased, and all accumulations thereof be from time to time (1) laid out in the purchase of the like 3 per cent. annuities in the name and with the privity of the said Accountant-General, in trust in this cause, and he is to declare the trust thereof accordingly, subject to the further order of this court. And for the purposes aforesaid the said Accountant-General is to draw, &c. [See No. XI. ante.]

For like order, see Hand's Pract. 229.

NOTE.

(1) Sometimes dividends are directed to be laid out as the same shall amount to a competent sum.

But this is of late disused.

Under such a direction the Accountant-General will not lay out less than 100Z.

No. XIII.

DIRECTION FOR PAYMENT OUT OF COURT. (1) It is ordered, that the sum of £ standing in the name of the Accountant-General of this Court to the credit of this cause be paid to the plaintiff (2), and for the purposes aforesaid, the said Accountant-General is to draw, &c. [See No. XI. ante.]

For Accountant-General's certificates of amount of funds in Court. See Hand's Pract. 270.

NOTES.

(1) For the mode of payment out of Court. See 1 Turn. Pract. 240. 1 Newl. Pract. 18. Decrees respecting Personal Assets, post.

D

For the mode of payment out of Court, where it is to be accompanied with a particular act, as the execution of deeds. See 1 Turn. Pract. 241.

For the mode of payment of costs out of fund in Court. See

1 Turn. Pract. 239.

(2) The only two cases in which the Accountant-General ever tries a fact, are first, where under an order to pay interest to a single woman, he goes on to pay, upon receiving proof of her marriage. The other, where he receives the probate as proof of the death of a party, and upon that pays the representative. Clayton v. Gresham. 10 Ves. 288.

But this practice differs from that of the Court. See S. C. and Hough v. Ryley, 2 Cox, 157.; and in the former case, which was an application by the petitioner, upon her marriage, for the payment of the interest of a fund in Court which had been previously ordered to be paid to her separate use, the Lord Chancellor, in addition to an affidavit of the marriage, required an affidavit that the interest of the fund was not affected by any settlement or articles. See Decrees respecting Fêmes Covert, post.

By the order of the 16th February, 1816. Beames, 464. 5 Ves. 742, note. 8 Ves. 201. note; where any sum is directed to be paid, or is reported due to an unmarried woman, in case of her marriage before payment, where the sum does not amount to 2007. or 10l. a year, upon affidavit of the husband and wife, stating the marriage, and that no settlement, or agreement for a settlement has been made affecting such sum, the Accountant-General may make his draft for such sum payable to the wife or the husband.

Formerly the Accountant-General would pay sums under 301. to the personal representative of the party entitled under a provincial administration. See Docker v. Horner, 2 Dick. 746. S. C. 3 Bro.

240.

And orders have been obtained for payment of sums beyond that amount under such administrations. Street v. Partridge, 5 Ves. 148. Upton v. Lord Ferrers, cited 6 Ves. 118.

But it is now settled, that however small the sum, a prerogative probate is necessary. Thomas v. Davies, 12 Ves. 417. Newman v. Hodgson, 7 Ves. 409. v. Horner, supra.

Challnor v. Murhall, 6 Ves. 118. Docker