Judicial Factors Act 1849
Judicial Factors Act 1849 (1849 c. 51)
- Judicial Factors Act 1849 (1849 c. 51)
- [1.] Interpretation of terms in this Act.
- 2 Judicial factor to find caution for duly performing his duties.
- 3 Judicial factor to lodge with the accountant a distinct rental of lands committed to his management, a list of funds, and an inventory of moveables, etc.
- 4 Factor to close his accounts once a year, and lodge the same with accountant.
- 5 Factor to lodge monies in one of the banks of Scotland.
- 6 Penalties on factor for misconduct.
- 7 Factor may apply for special powers.
- 8 Before special powers, &c. are granted, court to order intimation, &c.
- 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 10 General nature of accountant’s duty;
- 11 to assign a day for closing first account;
- 12 to adjust the rental, list, and inventory;
- 13 and to audit the accounts.
- 14 Rules of exact diligence may be dispensed with.
- 15 Accountant’s report conclusive against factor, if not objected to, and if objections, how to be disposed of.
- 16 Cautioner may be heard before the accountant.
- 17 Parties interested may, upon cause shown, open up audit of accounts.
- 18 Accountant to make an annual report of all judicial factories, which shall be printed.
- 19 Accountant to make requisitions and orders on the factor;
- 20 and to report to the lord ordinary or the court the factor’s failure in duty.
- 21 When malversation suspected, a case to be submitted to Her Majesty’s Advocate.
- 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 23 Provision as to past factories informally settled or desperate.
- 24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 25 Act made applicable to tutors of law, tutor’s-dative, and curators to insane persons.
- 26 Bonds of caution for tutors and curators.
- 27 Amount of caution for factors, &c. limited, and bonds of caution, &c. taken.
- 28 Certified copy of letters of tutory or curatory to form the basis of a summary process.
- 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 30 Rental, list, and inventory, to be equivalent to tutorial or curatorial inventory Scots Act 1672 c. 2.
- 31 Resignation, &c. of tutors and curators.
- 32 Remuneration and responsibility of factors, &c. not altered.
- 33 Accountant may require information from banks.
- 34 Discharge of factors, tutors, and curators.
- 34A Further provision as to discharge of factors, tutors and curators.
- 35 Accountant to be custodier of bank receipts.
- 36 Records in the accountant’s office to be open for inspection.
- 37 Banks to accumulate principal and interest on accounts and deposits.
- 38 Provision for accountant’s illness or temporary absence.
- 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 40 Power to pass acts of sederunt.
- 41 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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