Reserve fund
77 Reserve fund
Interest earned by the common fund and not credited to an account to which money forming part of the common fund was standing during any half-year is to be carried to a reserve fund.
The reserve fund is part of the common fund and, with the approval of a judge, may be used by the Principal Registrar – in making good any deficiencies in the funds in Court; or in making good any amount by which the amount of interest to be credited to the accounts forming part of the common fund during any half-year exceeds the amount of interest earned for that half-year; or to pay any expenses incurred in administering the funds in Court.
Interest in the reserve fund that is not used for the purposes of subrule (2) – is to be invested as part of the common fund; and is not to be treated as unclaimed money.
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