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TRUSTEE ACT 1850 - SECT 48

Money of infants and persons of unsound mind to be paid into court.

48. Where any infant or person of unsound mind shall be entitled to any money
payable in discharge of any lands, stock, or chose in action conveyed,
assigned, or transferred under this Act, it shall be lawful for the person by
whom such money is payable to pay the same into the [Supreme Court], in trust
in any cause then depending concerning such money, or, if there shall be no
cause, to the credit of such infant or person of unsound mind, subject to the
order or disposition of the said court; and it shall be lawful for the said
court, upon petition in a summary way, to order any money so paid to be
invested in the public funds, and to order payment or distribution thereof, or
payment of the dividends thereof, as to the said court shall seem reasonable;
and every cashier ... who shall receive any such money is hereby required to
give to the person paying the same a receipt for such money, and such receipt
shall be an effectual discharge for the money therein respectively expressed
to have been received.

S.49 rep. by 1893 c.53 s.51 sch. S.50 rep. by SLR 1875


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© 1850 Crown Copyright

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