HC Deb 28 April 1936 vol 311 cc733-4
64. Mr. THORNE

asked Mr. Attorney-General whether he will inform the House when he received the last report from the Dormant Funds Committee; the total amount of the fund to the nearest available date; and for what purpose is the money used?


The Committee on Dormant Funds, presided over by the late Lord Tomlin, issued its report in July, 1932 (Command Paper No. 4152), and is no longer in existence. In answer to the second part of the question, the total amount of the dormant funds, which consist partly of cash and partly of securities, is at present £2,524,179, taking the securities at their nominal value. As regards the last part of the question, funds in the High Court, whether dormant or not, are held in trust by the Acoountant-General of the Supreme Court, to attend the Orders of the Court as provided by the Supreme Court of Judicature Act, 1925, and are used for payments to suitors in accordance with Orders of the Court as and when made.


Can the hon. and learned Gentleman state for what purpose the interest on this money is being used?


If my hon. Friend would read the report of Lord Tomlin's Committee he would find the matter very clearly dealt with. I can tell him, quite shortly, that, under the Supreme Court of Judicature Act, depositors have 2 per cent. on their deposits, and that any balance of interest on the investments goes into the general fund which bears the administrative expenses. So far as suitors themselves are concerned, the Consolidated Fund is responsible for the payment to them for any moneys to which they are entitled.