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PART IV.
Deposits.
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General provisions in relation to deposits.
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14.—The following provisions shall have effect in relation to a deposit in the High Court made in pursuance of this Act:—
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(a) the deposit shall be of the value of two thousand pounds;
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(b) the deposit shall be under the control of the High Court;
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(c) the Accountant of the Courts of Justice shall issue free of charge on request to the person proposing to make the deposit the forms requisite for that purpose;
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(d) the deposit may, in lieu of being made in money, be made by—
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(i) the deposit of securities authorised by rules of court for the investment of moneys under the control of the High Court, or
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(ii) the deposit of a guarantee bond issued by a licensed assurance company in a form approved by the Minister whereby the company guarantees, in favour of the President of the High Court, up to a limit of two thousand pounds the due performance by the depositor of the obligations incurred by him as a licensed auctioneer or licensed house agent in relation to the receipt and payment of money and the safe custody of property;
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(e) where the deposit is made or held in money, the money or a specified part thereof shall, on the request and at the cost of the depositor, be invested in securities authorised as aforesaid and specified by the depositor;
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(f) the income derived from the securities of which the deposit is wholly or partly composed shall be paid to the depositor;
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(g) the said securities or any of them shall, at the request and cost of the depositor, be varied into other securities authorised as aforesaid and specified by the depositor;
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(h) the Accountant of the Courts of Justice shall issue free of charge on request to the depositor a certificate addressed to the Revenue Commissioners that the depositor maintains a deposit of a specified value or a guarantee bond for a specified sum in accordance with this section.
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