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accumulations of dividends thereon, are desired to be invested in any and what description of government securities, or whether it is deemed unnecessary so to invest the same. An office copy of such schedule is to be left with

the Paymaster.

By r. 41A, "where a co. desires to lodge money in Court under the Life Assurance Co.'s (Payment into Court) Act, 1896, there shall be annexed to the affidavit directed to be made by O. LIV, C., r. 1 of the Rules of the Supreme Court, or any substituted rule, a lodgment schedule stating the title and address of the co., the amount of the money proposed to be lodged, and the ledger credit to which it is to be placed; such ledger credit shall be as follows, with any necessary variations:-In the matter of the Policy No. of the Co. An office copy of the schedule is to be left with the Paymaster.

"On receipt by the Paymaster of any subsequent notice of claim transmitted by such co. pursuant to their undertaking referred to in sub-s. (e) of the said rule, he shall retain the same and make an entry thereof in his books; and on any certificate of the fund to which such notice refers he shall notify the name of the person giving such notice and the date thereof.

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The Paymaster, upon request and payment of same fee, supplies a copy of such notice."

By O. XLII, 4, a judgment (which includes an order: r. 24) for the payment of money into Court may be enforced by writ of sequestration, or, in cases in which attachment is authorized by law, by attachment: see inf. Chap. XXVII., "EXECUTION."

By 24 V. c. 3, s. 7, the Bank is authorized to close the books for the transfer of the various stocks created by Act of Parliament transferable at the Bank on any day in the month preceding that on which the dividends thereon respectively are payable; and the persons who on the day of the closing of such books were inscribed as the proprietors shall, as between them and the transferees, be entitled to the then current half-year's dividends thereon; and the persons to whom any transfer shall be made after the day of the closing of such books shall not be entitled to such dividend, but shall take such stock exclusive of the right to the said dividend.

By s. 10, the like provision is made for closing the books for the transfer of East India stocks.

Quarterly notices are issued by the Bank, under this Act, of the closing of the books.

For the practice as to ordering transfer of stock or payment of money into Court adversely, see Dan. 1477 seq. As against a trustee or exor there must have been a clear admission of money, &c., in hand, and of the Plt's title, by answer (Hazell v. Currie, L. R. 2 Ch. 449), or by affidavit verifying an account, or in some other proceeding in the suit: Dan. 1478.

Non-appearance on a motion for payment into Court of money shown by an affidavit, not contradicted, to have been received by the accounting party, is a sufficient admission for an order on him for payment into Court: Freeman v. Cox, 8 Ch. D. 148; and for the principles on which payment into Court will be directed, see London Syndicate v. Lord, 8 Ch. D. 84, C. A.; see also Hampden v. Wallis, 27 Ch. D. 251; Porrett v. White, 31 Ch. D. 52, C. A., following Freeman v. Cox, sup.; and see Wanklyn v. Wilson, 35 Ch. D. 180. The amount may be admitted in the defence: Hetherington v. Brownrigg, 10 Ch. D. 162. Where admitted erroneously, the amount was ordered to be paid into Court as a condition for leave to amend defence and withdraw admissions: Hollis v. Burton, (1892) 3 Ch. 226, C. A.

At the hearing, payment in may be ordered without previous notice: Isaacs V. Weatherstone, 10 Ha. xxx.

On a certificate of the Master showing a balance due from an accounting party, he will be ordered to pay it into Court; but not till after the expiration of the eight days allowed by O. LV, 70; Douthwaite v. Spensley, 18 Beav. 74; Craven v. Ingham, 57 L. T. 486; W. N. (88) 83; Dan. 1481. A prospective order may be made to enable parties to pay in from time to time: Lodgment Schedule, Forms 4 and 5.

Payment may also be directed by instalments.

The application is usually by summons in Chambers against an accounting party if not opposed: see Dan. 1478; D. C. F. p. 613; Tompson v. Hope,

V.-C. W., 30 Jan. 1860; and as to who may make the application, see
Dan. 1477 seq.

BRINGING FUNDS INTO COURT.-MODES OF TRANSFERRING AND
DEPOSITING VARIOUS SECURITIES.

The following" securities" may be brought into Court under sects. 3, 8, and 10 of the Ch. Funds Act, 1872, viz.:

1. Those passing by delivery, as Exchequer Bills.

2. Those transferable in books, as New Consols.

3. Those transferable by registered deed, as Railway Stock.

No. 1 will be deposited in Court.

Securities consisting of bonds or debentures which are deliverable, but require a transfer to complete the title, may, in some cases, be deposited without a box: see Povah v. Walker, 15 Eq. 316; Re Gledstane, W. N. (78) 26.

Securities of any co. out of the United Kingdom will not be received except in a box, such securities not being included in the third section of the Act. If considered desirable, securities comprised in Class I. may be placed

in a box.

Care must be taken to describe the securities in the schedule to the order by the description under which they are known at the Pay Office, adding the amounts, dates, and numbers, if any, and if there are coupons attached, they ought to be mentioned. The descriptions ought to be taken from the securities themselves, and if there are securities of several different descriptions the total amount of each description should be stated in the mandatory part of the order. Stock should be transferred to "the account of the Paymaster General for the time being on behalf of the Supreme Court of Judicature," and not "to the Paymaster General": Re Stephens, 8 Ch. 465.

S. C. F. R. r. 71, authorizes the Bank to deliver out securities in course of payment, and to pay the principal and interest into Court, and such principal money or dividends received by the Bank are to be placed to the credit of the

same account.

Under r. 76, the money, if not directed to be invested, would be placed upon deposit. If an option is to be given, the direction should be in the alternative.

It is not of course to direct the delivery out to the solrs in the cause of securities deposited for the purpose of receiving the dividends; the trustees or exors, if there are any, being the proper persons to receive the interest; but it has been sometimes ordered: Brown v. Heselton, V.-C. of E., 8 Feb. 1849, A. 520.

Foreign stocks and securities, plate or jewels, and other specific articles of value unascertained, are put in boxes indorsed with the short title of the cause to which they belong, and are deposited at the Bank with the privity of the Paymaster; neither the Paymaster nor the Bank take any cognizance of the contents of such boxes; and it is not the practice of the Bank to receive the interest on such securities.

The order usually directs that the foreign securities, or other specific articles, shall be placed in the box in the presence of the solrs for the parties interested.

By the Ch. Funds Amended Ord., 1874, 16, the Clerks of Records and Writs (now the Masters of the Supreme Court, see O. LX, 3) were prohibited from receiving into their custody effects of the suitors consisting of jewels or plate, or other articles of a like nature, or negotiable securities. (And that negotiable securities would be ordered to be deposited with the Paymaster and not with the Master: see Harvey v. Morris, 23 W. R. 21, 40). By O. LXI, r. 30, "where any deeds or other documents are ordered to be left or deposited, whether for safe custody or for the purpose of any inquiry in Chambers, or otherwise, the same shall be left or deposited in the Central Office, and shall be subject to such directions as may be given for the production thereof, but no effects of the suitors consisting of jewels or plate, or other articles of a like nature, or negotiable securities, are to be so deposited."

The Paymaster will receive foreign government or railway bonds, the coupons on which are payable to bearer in gold in London, also French Rentes and Italian Rentes, and some other similar foreign government securities; in other cases the bonds must be placed in a box. The practice as stated in Re Brackenbury, 22 W. R. 682, has been so far modified.

TIME FOR TRANSFER OR PAYMENT.

By O. XLI, 5, every judgment or order in any cause or matter, requiring any person to do any act thereby ordered, is to state the time, or the time after service of the judgment or order, within which the act is to be done, and upon the copy of the judgment or order which is to be served upon the person required to obey the same there is to be endorsed a memorandum in the words or to the effect following, viz. :-"If you the within-named A. B. neglect to obey this judgment [or order] by the time limited you will be liable to process of execution for the purpose of compelling you to obey the said judgment [or order]." The want of this endorsement on the order itself (not on the copy served) will not invalidate a motion to commit for non-compliance: Thomas v. Palin, 21 Ch. D. 360; but see contra, Hampden v. Wallis, 26 Ch. D. 746, C. A. If the time be not specified, the judgment or order is not thereby rendered altogether ineffectual, but an application may be made to fix a time for performance of the act: Needham v. N., 1 Ha. 633; Morley v. Clavering, 30 Beav. 108. As to effect of rule and mode of enforcing judgments and orders, see inf. p. 369 et seq., Chap. XXVII., “EXECUTION.' Sometimes the order directs the transfer or payment to be made on a fixed day, or subsequently within a time after service, in the alternative, to allow an opportunity of complying before service, or in case there should be a delay in serving the order. If the order is served before the fixed day the person ordered to pay will have until the fixed day, or to the time limited after service, whichever shall be last.

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In reckoning time, months, unless otherwise expressed, are calendar months; Sunday, Christmas Day, and Good Friday are not to be reckoned when the time limited is less than six days; and when the time expires on a day on which the offices are closed the act or proceeding will be in time on the next day the offices are open: O. LXIV, 1-3; and see Re Railway Sleepers Supply Co., 29 Ch. D. 204, as to the computation of time generally.

Notwithstanding Thomas v. Nokes, 6 Eq. 521, the word "forthwith " has not in practice been considered a sufficient limitation of time within this rule : see Gilbert v. Endean, 9 Ch. D. 259, C. A.; but see contra Halford v. Hardy, W. N. (99) 243; 81 L. T. 721; and see inf. Chap. XXVII., "EXECUTION." Funds, &c., may be brought into Court although the time limited by the order has expired; any further sums payable for interest or dividends may be paid in upon request without prejudice to any liability, &c. such person may have become subject to by reason of his default as to time: S. C. F. R. r. 36.

SECTION II.-PAYMENT OF DIVIDENDS AND INTEREST, AND TRANSFER, SALE, OR CARRYING OVER OF SECURITIES.

LET the funds in Court [or so to be lodged] be dealt with as directed in the schedule hereto.

FORMS OF PAYMENT SCHEDULES.

In the High Court of Justice,

Chancery Division. Title of cause or matter.

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Ledger Credit [If same title of cause or matter]" as above" [add account, if any].

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5. To a corporation ag- Pay interest as it accrues.... Insert style or title

gregate.

of the corpora

6. To a treasurer.

See D. C. F. 907.

tion.

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7. To a married woman, Pay interest as it accrues A. B., of, &c., the

entitled for her sepa

rate use.

See D. C. F. 906.

during the life of A. B.

wife of C. D.,
on her separate
receipt.

8. To a divorced woman.. Pay interest as it accrues A. B., of, &c., a

during the life of A. B.

single woman.

9. To a widow until her Pay interest as it accrues A. B., of, &c.,
until A. B. shall marry widow.
again.

second marriage.

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11. To two persons, and Pay interest as it accrues A. B. and C. D.

the survivor.

during the joint lives of

A. B. and C. D. On the
death of either of them,
pay the said interest as it
accrues during his life to
the survivor.

12. Until a sum certain Pay interest as it accrues A. B., of, &c.

has been received.

during the life of C., or

until A. B. shall have re

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