Public Works (Ireland) Act, 1831

Application of purchase or compensation money paid in respect of lands belonging to corporations or incapacitated persons, when exceeding 200l.

78. All monies agreed or awarded to be paid for the purchase of any lands or hereditaments purchased and sold, taken or used, by virtue of the powers of this Act, or for any damages done to such lands or hereditaments, as herein-before particularly mentioned, and the said monies shall belong to any corporation, feme covert, infant, lunatic, or person or persons under any disability or incapacity, such monies shall, in case the same exceed the sum of two hundred pounds, with all convenient speed be paid into the Bank of Ireland, in the name and with the privity of the accountant general of the Court of Chancery of Ireland, to be placed to his account there, ex parte the said commissioners; to the intent that such money shall be applied, under the direction and with the approbation of the senior master of Chancery, to be signified by an order made upon a petition to be preferred in a summary way by the person or persons who would have been entitled to the rents and profits of the said lands or hereditaments, in the discharge of any debt or debts, or part thereof, affecting the same lands, or affecting other lands or hereditaments standing settled therewith to the same or like uses, intents, or purposes; or, when such money shall not be so applied, then the same shall be laid out and invested, under the like direction and approbation of the senior master of Chancery, in the purchase of other messuages, lands, or hereditaments, which shall be conveyed and settled to, for, and upon such and the like uses, trusts, intents, and purposes, and in the same manner, as the messuages, lands, and hereditaments which shall be so purchased, taken, or used or damaged as aforesaid stood settled or limited, or such of them as at the time of making such conveyance and settlement shall be existing undetermined and capable of taking effect; and in the meantime and until such purchase shall be made the said money shall, on the request of the person or persons who would for the time being be entitled to the rents and profits of the lands and hereditaments so hereby directed to be purchased (such request to be in writing, signed by him, her, or them), and without any order of the said master, be invested by the said accountant general in his name in purchase of any stocks, funds, or annuities transferable at the Bank of Ireland; and in the meantime, and until the said stocks, funds, or annuities shall be ordered by the said master of Chancery to be sold for the purposes aforesaid, the dividends and annual produce thereof shall from time to time go and belong to the person or persons who would for the time being have been entitled to the rents and profits of the said lands and hereditaments so hereby directed to be purchased in case such purchase or settlement were made.