No. 178/1933:

THE ROAD TRAFFIC ACT (DEPOSITS BY VEHICLE GUARANTORS AND EXEMPTED PERSONS) ORDER 1933.

THE ROAD TRAFFIC ACT (DEPOSITS BY VEHICLE GUARANTORS AND EXEMPTED PERSONS) ORDER 1933.

THE ROAD TRAFFIC ACT (DEPOSITS BY VEHICLE GUARANTORS AND EXEMPTED PERSONS) ORDER, 1933, MADE BY THE MINISTER FOR INDUSTRY AND COMMERCE ON THE ELEVENTH DAY OF DECEMBER, 1933, UNDER SUB-SECTION (4) OF SECTION 61 of THE ROAD TRAFFIC ACT, 1933 .

WHEREAS it is enacted by sub-section (4) of section 61 of the Road Traffic Act, 1933 , that the Minister for Industry and Commerce may by order make rules with respect to applications for warrants for the purposes of that section, the payment of deposits and the investment thereof or dealing therewith, the deposit of stocks, shares, or other securities in lieu of money, the payment of the income from time to time accruing due on any securities in which deposits are for the time being invested, and the withdrawal and transfer of deposits.

NOW THEREFORE, the Minister for Industry and Commerce in exercise of the powers conferred on him by sub-section (4) of section 61 of the Road Traffic Act, 1933 , and of all other powers him in this behalf enabling makes by this Order the following rules, that is to say :—

1. In these rules—

the expression " the Minister " means the Minister for Industry and Commerce; the expression " the Act " means the Road Traffic Act, 1933 ;

the expression " the Bank " means the Bank of Ireland or such branch of the Bank of Ireland as may from time to time be appointed to receive and deal with cash and securities under the control of the Accountant of the Courts of Justice ;

the expression " the Accountant " means the Accountant of the Courts of Justice.

2. The Interpretation Act, 1923 , applies to the interpretation of these Rules in like manner as it applies to the interpretation of an Act of the Oireachtas.

3. Any person (other than a vehicle insurer) who intends to carry on the business of issuing approved guarantees and proposes to make a deposit of fifteen thousand pounds under section 61 of the Act for the purpose of such business may make application to the Minister for a warrant authorising such deposit for such purpose, and the Minister may thereupon issue his warrant to such person, describing him therein as being a vehicle guarantor, for lodgment of such deposit in the High Court, and such warrant shall be sufficient authority for the person named therein to lodge the money therein mentioned at the Bank to the account of the Accountant for and on behalf of the Court, and for the Accountant to issue, directions to the Bank to receive the same, to be placed in the books of the Accountant, to the credit of ex parte the person mentioned in such warrant, and to be further described as being a vehicle guarantor for the purposes of Part V. of the Road Traffic Act, 1933 :

Provided that any person who proposes to make a deposit for the purpose aforesaid may in lieu, wholly or in part, of the lodgment of money, bring into Court as a deposit an equivalent amount of any stocks, shares or other securities authorised by law for the investment of funds in the High Court (the value thereof being taken at a price as near as may be to, but not exceeding the current market price); and in that case the Minister shall vary his warrant accordingly, by directing the lodgment of such amount of such stocks, shares or other securities, by the person named therein, to the said account of the said Accountant for the credit in his books of ex parte the person mentioned in such warrant and further described as aforesaid.

4. Any person (other than a vehicle insurer) who desires to become an exempted person and proposes to make a deposit of fifteen thousand pounds under section 61 of the act for the purpose of being an exempted person may make an application to the Minister for a warrant authorising such deposit for such purpose, and the Minister may thereupon issue his warrant to such person, describing him therein as being an exempted person, for lodgment of such deposit in the High Court, and such warrant shall be sufficient authority for the person named therein to lodge the money therein mentioned at the Bank to the account of the Accountant for and on behalf of the Court, and for the Accountant to issue directions to the Bank to receive the same, to be placed in the books of the Accountant, to the credit of ex parte the person mentioned in such warrant, and to be further described as being an exempted person for the purposes of Part V. of the Road Traffic Act, 1933 ;

Provided that any person who proposes to make a deposit for the purpose aforesaid may in lieu, wholly or in part, of the lodgment of money, bring into Court as a deposit an equivalent amount of any stocks, shares or other securities authorised by law for the investment of funds in the High Court (the value thereof being taken at a price as near as may be to, but not exceeding, the current market price); and in that case the Minister shall vary his warrant accordingly, by directing the lodgment of such amount of such stocks, shares or other securities, by the person named therein, to the said account of the said Accountant for the credit in his books of ex parte the person mentioned in such Warrant and further described as aforesaid.

5. Where a deposit of money or securities has been made under the preceding Rules, the High Court may, on the application of the person who has made or is maintaining the deposit, order:—

(a) Investment in such of the securities authorised by law for the investment of funds in the High Court as the applicant desires and the Court thinks fit, and either by way of original investment or by way of variation of investment.

(b) Payment to the applicant of the interest, dividends or income from time, to time accruing due on any stocks, funds, or securities in which the deposit is for the time being invested.

6. The issuing in any case of any warrant or certificate relating to a deposit, or any error in any such warrant or certificate, or in relation thereto, shall not make the Minister, or the person signing the warrant or certificate on his behalf, in any manner liable for, or in respect of the deposit, or the interest or dividends accruing on the same, or any part thereof respectively.

7. This Order may be cited for all purposes as the Road Traffic Act (Deposits by Vehicle Guarantors and Exempted Persons) Order, 1933.

By Order of the Minister for Industry and Commerce.

Dated this 11th day of December, 1933.

JOHN LEYDON,

Secretary,

Department of Industry and Commerce.