Rule 17 Authority to direct investmentI1
England and Wales
Subject to paragraph (2), the Accountant General shall invest or reinvest a fund in court in accordance with a written request F1(or, if the case is one where the Accountant General has directed that electronic means may be used, an electronic request) from a court.
The Accountant General shall invest or reinvest a fund in court that is subject to an order of the Court of Protection in accordance with written directions F2(or, if the case is one where the Accountant General has directed that electronic means may be used, an electronic version of such directions) from:
the Court of Protection;
a deputy; or
an investment manager.
If a deputy appoints an investment manager, the deputy must send in writing F3(which includes, if the case is one where the Accountant General has directed that electronic means may be used, an electronic version) to the Accountant General:
authority for the investment manager to give directions for the investment of a fund in court; and
contact details of the investment manager.
The Accountant General may not comply with a direction given under paragraph (2)(b) if:
the deputy gave the direction without authority to do so;
the Court of Protection has made a contrary direction; or
there is any other good reason for not complying.
The Accountant General may not comply with a direction given under paragraph (2)(c) if:
a deputy appointed the investment manager without authority to do so;
the deputy has not complied with paragraph (3);
the investment manager gave the direction without authority to do so;
the Court of Protection has made a contrary direction; or
there is any other good reason for not complying.
Annotations
Textual amendments
- F1
Words in rule 17(1) inserted (27.10.2023) by The Court Funds (Amendment) Rules 2023 (S.I. 2023/987), rules 1(1), 12(a)
- F2
Words in rule 17(2) inserted (27.10.2023) by The Court Funds (Amendment) Rules 2023 (S.I. 2023/987), rules 1(1), 12(b)
- F3
Words in rule 17(3) inserted (27.10.2023) by The Court Funds (Amendment) Rules 2023 (S.I. 2023/987), rules 1(1), 12(c)