LODGMENT IN COURT
—(1) Subject to paragraph (2), any trustee wishing to make a payment into Court under section 62 of the Trustees Act (Chapter 337), must apply by summons supported by an affidavit setting out —
a short description of the trust and of the instrument creating it or, as the case may be, of the circumstances in which the trust arose;
the names of the persons interested in or entitled to the money or securities to be paid into Court with their addresses so far as known to him;
his submission to answer all such inquiries relating to the application of such money or securities as the Court may make or direct; and
an address where he may be served with any summons or order, or notice of any proceedings, relating to the money or securities paid into Court.
(2) Where the money or securities represents a legacy, or residue or any share thereof, to which a minor or a person resident outside Singapore is absolutely entitled, no affidavit need be filed under paragraph (1).
[S 49/2009 wef 01/03/2009]
3. Any person who has lodged money or securities in Court must forthwith give notice of the lodgment to every person appearing to be entitled to, or to have an interest in, the money or securities lodged.
—(1) Money to be lodged in Court must be lodged by means of a direction to the Accountant-General in Form 219A(a).
[S 637/2006 wef 01/01/2007]
(2) Securities issued by a company or by any body corporate constituted under any written law, being fully paid up and free from liability, may be transferred to the Accountant-General in his official name.
(3) The person lodging under paragraph (2) must execute a transfer thereof, and send such transfer together with the authority in Form 220 to the registered office of the company or body corporate in whose books the securities are to be transferred.
(4) Such company or body corporate must, after registering such transfer, forward the authority to the Accountant-General with a certificate in Form 220, that the securities have been transferred as therein authorised.
(5) Securities, other than those described in paragraph (2), may be placed in a box or packet and lodged with a direction in Form 219A(a) with the Accountant-General.
[S 637/2006 wef 01/01/2007]
(6) After inspecting the contents in the box or packet in the presence of the person lodging the same, and seeing that such box or packet is properly marked and secured, the Accountant-General shall receive the same and give the person lodging a receipt.
(7) The Accountant-General must, after receiving the money or securities, send to the Registrar a duplicate of the receipt that had been issued to the person lodging the same, to be filed in the Registry.
5. Any principal money or dividends received by the Accountant-General in respect of securities in Court must be placed in his books, in the case of principal money, to the credit to which the securities whereon such money arose were standing at the time of the receipt thereof, and in the case of dividends, to the credit to which the securities whereon such dividends accrued were standing at the time of closing of the transfer books of such securities previously to the dividends becoming due.
—(1) Money lodged in Court to the credit of any account shall be deemed to be placed on deposit, and shall be credited with interest at such rate as is from time to time fixed by the Minister for Finance, not being greater than the highest rate of interest which for the time being can be obtained by the Government on current account from any bank in the State except —
when money is paid into Court under Order 14, 22, 23 or 70; or
when the amount is less than $30,000.
(2) Such money shall be deemed not to be placed on deposit when the amount is reduced below $30,000.
—(1) Interest upon money on deposit must not be computed on a fraction of $1.
(2) Interest upon money on deposit accrues by calendar months, and must not be computed by any less period.
(3) Such interest begins on the first day of the calendar month next succeeding that in which the money is placed on deposit, and ceases from the last day of the calendar month next preceding the day of the withdrawal of the money from deposit.
(4) Interest which has accrued for or during the year ending on the 31st day of December in every year, on money then on deposit must, on or before 15 days thereafter following, be placed by the Accountant-General to the credit to which such money is standing.
(5) When money on deposit is withdrawn from deposit, the interest thereon which has accrued and has not been credited must be placed to the credit to which the money is then standing.
(6) When money on deposit consists of sums which have been placed on deposit at different times, and an order is made dealing with the money, and part of such money has to be withdrawn from deposit for the purpose of executing such order, the part or parts of the money dealt with by such order last placed and remaining on deposit at the time of such withdrawal must, for the purpose of computing interest, be treated as so withdrawn unless the order otherwise directs.
(7) Unless otherwise directed by an order, interest credited on money on deposit must, when or so soon as it amounts to or exceeds $30,000, be placed on deposit and, for the purpose of computing interest upon it, must be treated as having been placed on deposit on the last yearly day on which any such interest became due.
—(1) Where an application to the Court —
for the payment or transfer to any person of any funds in Court standing to the credit of any cause or matter or for the transfer of any such funds to a separate account or for the payment to any person of any dividend of or interest on any securities or money comprised in such fund;
for the investment, or change of investment, of any funds in Court;
for payment of the dividends of or interest on any funds in Court representing or comprising money or securities lodged in Court under any written law; or
for the payment or transfer out of Court of any such funds as are mentioned in sub-paragraph (c),
is made, the application may be disposed of in Chambers.
(2) Subject to paragraph (3), any such application must be made by summons, and unless the application is made in a pending cause or matter or an application for the same purpose has previously been made by petition or originating summons, the summons must be an originating summons.
(3) Where an application under paragraph (1)(d) is required to be made by originating summons, then, if the funds to which the application relates do not exceed $5,000 in value, and subject to paragraph (4), the application may be made to the Registrar.
(4) This Rule does not apply to any application for an order under Order 22.
—(1) Money paid into Court shall be paid out on a direction to the Accountant-General in Form 219A(b).
[S 637/2006 wef 01/01/2007]
(2) When an order directs any sums to be ascertained by the certificate of the Registrar, both the order and the certificate in Form 219A(c) must be sent to the Accountant-General.
[S 637/2006 wef 01/01/2007]
(3) When an order directs payments out of a fund in Court of any costs directed to be taxed, the Registrar must state in his certificate the name and address of the person to whom such costs are payable.
—(1) Every order which directs funds in Court to be paid, transferred, or delivered out must state in full the name of every person to whom such payment, transfer, or delivery is to be made, unless the name is to be stated in a certificate of the Registrar.
(2) In the case of payment to a firm it is sufficient to state the business name of such firm.
(3) When money in Court is by an order directed to be paid to any persons described in the order, or in a certificate of the Registrar, as co-partners, such money may be paid to any one or more of such co-partners, or to the survivor of them.
—(1) When funds in Court are by an order directed to be paid, transferred, or delivered to any person named or described in an order, or in a certificate of the Registrar, except to a person therein expressed to be entitled to such funds as trustee, executor, or administrator, or otherwise than in his own right, or for his own use, the funds, or any portion thereof for the time being remaining unpaid, untransferred, or undelivered, may, unless the order otherwise directs, on proof of the death of that person, whether on or after or, in the case of payment directed to be made to a creditor as such, before the date of such order, be paid, transferred, or delivered to the legal personal representatives of the deceased person, or to the survivor or survivors of them.
(2) If no administration has been taken out to the estate of such deceased person who has died intestate, and whose assets do not exceed the value of $10,000, including the amount of the funds directed to be so paid, transferred or delivered to him, such funds may be paid, transferred, or delivered to the person who, being widower, widow, child, father, mother, brother or sister of the deceased, would be entitled to take administration to his or her estate, upon a declaration by such person in accordance with Form 221.
(3) When funds in Court are by an order directed to be paid, transferred, or delivered to any persons as legal personal representatives, such funds, or any portion thereof for the time being remaining unpaid, untransferred, or undelivered, may, upon proof of the death of any such representatives, whether on or after the date of such order, be paid, transferred, or delivered to the survivor or survivors of them.
(4) No funds shall under this Rule be paid, transferred, or delivered out of Court to the legal personal representatives of any person under any probate or letters of administration purporting to be granted at any time subsequent to the expiration of 2 years from the date of the order directing such payment, transfer, or delivery, or, in case such funds consist of interest or dividends, from the date of the last receipt of such interest or dividends or such order.
(5) When any application for an order such as is referred to in paragraphs (1) and (3) is made, notice thereof must be given to the Commissioner of Estate Duty who shall be entitled to attend and be heard on the matter.
—(1) When funds in Court are by an order directed to be transferred or carried over, the party having the carriage of the order must lodge with the Accountant-General a copy of the order, and the Accountant-General must act in accordance with such order.
(2) When funds in Court are by an order directed to be invested, the party having the carriage of the order must lodge with the Accountant-General a copy of the order and the Accountant-General must thereupon invest such funds in the manner directed by the order.
(3) Subject to paragraph (4), the Court may direct that any money in Court, other than money under Orders 14, 22, 23 and 70, may be invested in any of the securities in which trustees are by law permitted to invest trust money in their hands.
(4) The Court may direct that any money in Court under Order 70 may be placed on deposit with any bank or finance company in Singapore, provided that at the time of the making of the order, it exceeds the sum of $250,000. Any application under this paragraph shall be served on the Sheriff.
13. When any person is entitled under an order or direction to receive any payment from the Accountant-General, and the Accountant-General requires evidence of life, or of the fulfilment of any conditions affecting such payment, such evidence may be furnished by a statutory declaration made by a solicitor acting on behalf of such person, or by the person entitled to the payment.
Copy of order or certificate to be sent to Auditor-General (O. 90, r. 14)
14. [Deleted by S 228/2007 wef 01/07/2007]
—(1) The Accountant-General, upon a request signed by or on behalf of a person claiming to be interested in any funds in Court standing to the credit of an account specified in such request, must, unless there is good reason for refusing, issue a certificate of the amount and description of such funds. Such certificate shall have reference to the morning of the day of the date thereof, and shall not include the transactions of that day.
(2) The Accountant-General must notify on such certificate the dates of any orders restraining the transfer, sale, delivery out, or payment or other dealing with the funds in Court to the credit of the account mentioned in such certificate, and whether such orders affect principal or interest, and any charging orders affecting such funds, of which respectively he has received notice and the names of persons to whom notice is to be given, or in whose favour such restraining or charging orders have been made.
(3) The Accountant-General may re-date any such certificate, provided that no alteration in the amount or description of funds has been made since the certificate was issued.
(4) When a cause or matter has been inserted in the list referred to in Rule 16, that fact shall be notified in the certificate relating thereto.
16. In the month of January in every year, the Accountant-General shall cause to be published in the Gazette a list of accounts not dealt with for a period of 4 years or more and must give the title and number of the cause or matter and the title of the ledger credit in which funds are outstanding, and the balance of the funds in each account.
—(1) The funds in Court or in the Sheriff’s account appearing from the books and accounts to have been in the custody of the Accountant-General or the Sheriff for a period of 6 years and upwards, without any claim having been made and allowed thereto during that period, must be transferred and paid to the Government for the general purposes of the State.
(2) If any claim is made to any part of the funds in Court or in the Sheriff’s account which are transferred and paid to the Government under paragraph (1), and if such claim is established to the satisfaction of the Court, the Government must pay to the claimant the amount of the principal so transferred and paid as aforesaid, or so much thereof as appears to be due to the claimant.
(3) Nothing in this Rule shall authorise the transfer of any funds in Court or in the Sheriff’s account standing to the separate credit of a minor, or held in a minor’s account pending the coming of age of such minor, until such minor comes of age or dies.
[S 49/2009 wef 01/03/2009]