The Court Funds (Amendment) Rules 1991

• Citation: S.I. 1991/1227
• Sections: 2

Section 1 Citation and Commencement

These Rules may be cited as the Court Funds (Amendment) Rules 1991and shall come into force on 13th June 1991.

Section 2 Amendments

The Court Fund Rules 1987 shall be amended as follows—

(a) in rule 2(2)—

(i) delete the definitions of “Capital Fund” and “Central Investment Branch”; and

(ii) insert, after the definition of“Fund”, the following new definition—

“Gross Income Fund” means the Common Investment Fund of that name;

(b) after rule 34(1)(iii) insert:—

(iv) it may be invested in investment trust ordinary shares.

(c) in rule 34(2)—

(i) delete the words“by the Accountant General”, and

(ii) for the words“Central Investment Branch” substitute the words“Public Trustee”.

(d) in rule 37(2), for the words“Capital Fund Units”, wherever they appear, substitute the words“Common Investment Fund Units”.

(e) after rule 37(2) insert the following new paragraph:—

(3) Funds shall not be directed to be invested in the GrossIncome Fund unless dividends payable on such funds may be paid withoutdeduction of income tax in accordance with arrangements made underparagraph 6 of the Common Investment Scheme 1991