If you are a beneficiary of the court, you should visit our section For Beneficiaries.
Funds in Court supports the Senior Master in his role as the holder of funds paid into Court.
Section 113 of the Supreme Court Act provides that, subject to certain legislation, all money paid into court under an order of the Court or under any Act or the Rules is to be held by the Senior Master.
Usually an order of the Court is required for every payment into Court, and for every payment out.
This section provides some information regarding funds paid to the Senior Master as security for the costs of a party to a Supreme Court proceeding, or dispute moneys paid pending the outcome of a proceeding or application.
General information is also provided regarding the payment of funds into Court in the absence of a Supreme Court proceeding, such as surplus proceeds of sale paid into Court by a mortgagee pursuant to s. 77 of the Transfer of Land Act 1958, or other funds paid under s. 69 of the Trustee Act 1958.
The main role of the Senior Master is to hold funds for people who are unable to manage their own affairs, due to a legal disability such as minority or acquired brain injury. General information and guidelines are provided regarding the approval of compromise procedure, to assist practitioners in obtaining the order to provide for the initial payment into Court for people under a legal disability.