Auctioneers and House Agents Act, 1947
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Payment of judgment debt out of deposits. |
15.—(1) Whenever a person (in this subsection referred to as the plaintiff) obtains in any proceedings a judgment, order or decree against any other person (in this subsection referred to as the defendant) for the payment of money in discharge of a liability incurred by the defendant as a licensed auctioneer or licensed house agent in relation to the receipt or payment of money or the safe custody of property, the High Court may, on the application in a summary manner of the plaintiff, order such money (with or with out the costs of the application) to be paid to him out of the deposit maintained by the defendant, or, if the deposit consists of a guarantee bond and notice of the institution of the proceedings has been served before the hearing of the proceedings on the assurance company concerned, to be paid to the Accountant of the Courts of Justice by the assurance company, on behalf of the plaintiff. | |
(2) Whenever a person (in this subsection referred to as the plaintiff) institutes proceedings against any other person (in this subsection referred to as the defendant) involving a claim for payment of money in discharge of a liability alleged to have been incurred by the defendant as a licensed auctioneer or licensed house agent in relation to the receipt or payment of money or the safe custody of property, the High Court may, on the application of the plaintiff, by order direct that the deposit maintained by the defendant or some specified portion thereof be not released pending the termination of the proceedings or during such other period as to the Court may seem proper, and the Court may discharge or vary the said order. | ||
(3) Whenever an order is made by the Court under this section for the payment of money out of a deposit or by an assurance company, the following provisions shall have effect:— | ||
(a) the Accountant of the Courts of Justice shall, on making any payment under the order, forthwith notify the Revenue Commissioners and the depositor thereof and of the value of the balance remaining of his deposit or the balance secured by the guarantee of the assurance company, as the case may be; | ||
(b) if the value of the said balance falls short of two thousand pounds, and if the depositor does not, within fifteen days after the date of such notification, produce to the Revenue Commissioners a certificate of the said Accountant that he has deposited in accordance with section 14 of this Act an amount equal to the amount of the deficiency or a guarantee bond for that amount, the Revenue Commissioners shall forthwith cancel the auctioneer's licence or house agent's licence held by the depositor and every auction permit granted to him and to any person to conduct auctions on his behalf. |