§ The Attorney-General (Sir Elwyn Jones)No. The courts are in a much better position than the Public Trustee, in the large number of cases which arise throughout the country, to consider the particular circumstances of each minor and to decide how the damages should be invested. Since the passing of the Administration of Justice Act, 1965, it has been possible for the courts to direct that the damages should be invested in common investment funds under the management of the Public Trustee, and this enables the courts to take advantage of the expert advisory service available to the Public Trustee and gives beneficiaries the advantages of a wide range of investments. Experience so far shows that these arrangements are working very satisfactorily.
§ Mr. FittWould not the Attorney-General agree that the present arrangements are not working satisfactorily? Will he comment on a case which I have in mind? In 1951 a young girl of five years of age was awarded £1,500. This year she finds that what she was awarded has depreciated to £900. The judge in the case made an award of £1,500 which is now worth only £900.
§ The Attorney-GeneralThe situation has been improved since the Administration of Justice Act, 1965, was passed. My present information is that the arrangements are working satisfactorily.
§ Mr. BrewisWould the right hon. and learned Gentleman look at the case in which widows and orphans, through their representatives, asked to have their money invested in dated stocks and were told that it was not allowed? Would he see whether compensation could be made available in those circumstances?
§ The Attorney-GeneralIf the hon. Gentleman will give me particulars of that case, I will have it considered.
§ Sir Knox CunninghamIs it not right that these funds can be invested by bank trustees and trustees of trust investments if the court is asked to hand them over?
§ The Attorney-GeneralYes, I think that that is so. The court has powers in this field.