Road Traffic Act, 1933
|
Application and repayment of deposit. |
79.—(1) In this section— | |
the word “deposit” means a deposit of money with the Accountant of the Courts of Justice made either under the Assurance Companies Act, 1909 , as extended by this Part of this Act by way of qualification for carrying on the business of vehicle insurer or under this Part of this Act by way of qualification for carrying on the business of vehicle guarantor or of being exempted from this Part of this Act; | ||
the word “depositor” means a person who has made a deposit; | ||
the expression “approved document” means a document which is either an approved policy of insurance, an approved guarantee, or an approved combined policy and guarantee. | ||
(2) Whenever a person (in this section referred to as a judgment creditor) has recovered judgment in any court against a depositor for a sum to which this section applies the High Court may, on the application of the judgment creditor and if satisfied that the depositor has no goods which can be taken in execution to satisfy such judgment, order the amount of such judgment together with the costs of such order, the application therefor, and the proceedings thereunder to be paid by the Accountant of the Courts of Justice out of the deposit made by the depositor. | ||
(3) Whenever the amount of a judgment is paid under this section out of a deposit, the depositor by whom such deposit was made may deposit with the Accountant of the Courts of Justice by way of addition to and recoupment of such deposit a sum equal to the sum so paid out of such deposit, and until such depositor so deposits such sum he shall be deemed not to comply with the provisions of this Part of this Act or the Assurance Companies Act, 1909 , as extended by this Part of this Act relating to the making of deposits. | ||
(4) Whenever a depositor, if an individual, becomes bankrupt or insolvent or dies or, if a corporate body, is wound up or, if a partnership or other unincorporated association, is dissolved, the deposit made by such depositor shall be applicable in the first instance to payment only of the liabilities of the depositor for sums to which this section applies and when all such liabilities of such depositor have been discharged in full shall be applicable as general assets of the depositor. | ||
(5) Whenever the High Court is satisfied, on the application of a depositor or a person claiming through or under a depositor and after notice to the Minister for Industry and Commerce and after such publication of advertisements as the High Court shall direct, that it is just and equitable that the deposit made by such depositor should be paid out to the person making such application, the High Court may order such deposit to be paid out to such person either unconditionally or subject to such conditions as the High Court shall think proper to specify in such order. | ||
(6) This section applies only to— | ||
(a) sums against the liability for which an insurance or a guarantee or a combined insurance and guarantee is required by this Part of this Act to be effected and for which the depositor is liable as the insurer or guarantor thereof, and | ||
(b) sums against the liability for which the depositor, if he were not a depositor, would have been required by this Part of this Act to have effected an insurance or a guarantee or a combined insurance and guarantee. |