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Assignee disobeying direction to pay or invest money, and retaining it, or permitting co-assignee to retain or employ it, to be charged with 20 per cent. interest. 390. If any assignee shall retain in his hands or employ for his own benefit, or knowingly permit any co-assignee so to retain or employ any sum to the amount of more than one hundred pounds, part of the estate of any bankrupt or insolvent, or shall neglect to invest any money in the purchase of Exchequer bills or in the public funds, when directed by the Court, every such assignee shall be liable to be charged in his account with such sum as shall be equal to interest at the rate of twenty per centum per annum on all such money for the time during which he shall have so retained or employed the same, or permitted the same to be so retained or employed, or during which he shall so have neglected to invest the same; and the Court is hereby required to charge every such assignee in his account accordingly.] S.391 rep. by SLR 1893; 1948 c.62 s.4(a); 1980 NI 4 art.44(2)(b) sch.3
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URL: http://www.bailii.org/nie/legis/num_act/ibaia1857311/s390.html