• Source: Court of Chancery (Funds) Act 1872

    • The Court of Chancery (Funds) Act 1872 (35 & 36 Vict. c. 44) was an act of the Parliament of the United Kingdom that abolished the office of Accountant General of the High Court of Chancery in England, transferring the functions to the Paymaster General, and established a deposit account for suitors in the Court of Chancery, returning 2% per annum.


    Passage


    The Court of Chancery (Funds) Bill was first introduced in the 1871 session of parliament, but was withdrawn on 27 July 1871.
    Leave to bring in the re-introduced Court of Chancery (Funds) Bill was granted to William Edward Baxter , the Solicitor General, Sir George Jessel , and William Henry Gladstone on 14 February 1872. The bill had its first reading in the House of Commons on 14 February 1872, presented by William Edward Baxter . The bill had its second reading in the House of Commons on 4 April 1872, where a motion to postpone the bill for 6-months was rejected. The bill was described as "pretty nearly" the same as the 1871 Bill. During debate, the bill was criticised by members including Mr. Crawford and William Henry Gregory , who argued that the current system was working well (with only £1,000 lost to fraud in 150 years) and expressed concerns about mixing judicial and political functions and the government's ulterior motive to use the funds for Terminable Annuities to reduce national debt. On 29 April 1872, a motion to commit the bill to a select committee was withdrawn. The bill was committed to a committee of the whole house, which met on 13 May 1872, where a motion by Sir Richard Baggallay to refer the bill to a was defeated. The Committee met again on 28 May 1872 and 4 June 1872 and reported on 13 June 1872, with amendments. Following debate surrounding the pension for the incumbent Accountant General, the amended bill was re-committed to a committee of the whole house, which met and reported immediately on 13 June 1872, with amendments. The amended bill had its third reading in the House of Commons on 18 June 1872 and passed, with amendments.
    The bill had its first reading in the House of Lords on 18 June 1872. The bill had its second reading in the House of Lords on 1 July 1872 and was committed to a Committee of the Whole House, which met on 5 July 1872 and 11 July 1872 and reported on 11 July 1872, with amendments. The amended bill had its third reading in the House of Lords on 16 July 1872 and passed, with amendments.
    The amended bill was considered and agreed to by the House of Commons on 25 July 1872.
    The bill was granted royal assent on 6 August 1872.


    Provisions




    = Repealed acts

    =
    Section 26 of the act repealed 24 enactments, listed in the second schedule to the act. Section 26 of the act also included safeguards to preserve all rights and actions taken before the act's commencement, protect land titles and compensation payments, and maintain existing pension and annuity rights as well as associated duties.


    Legacy


    Courtenay Ilbert described the act as a Consolidation Act, given that the act, which amended the Metropolitan Board of Works, also consolidated various enactments relating to that particular branch of law.
    Section 16 of the act was repealed by section 30 of the Supreme Court of Judicature Act 1875 (38 & 39 Vict. c. 77).
    Section 10 of the act was amended by section 7 of the Supreme Court of Judicature (Funds, &c.) Act 1883 (46 & 47 Vict. c. 29).
    Section 4 from "the office" to "abolished, and", section 22, section 26, the first paragraph, and subsection (1) of the proviso and schedule 2 of the act were repealed by the Statute Law Revision Act 1883 (46 & 47 Vict. c. 39).
    The whole act was repealed by sections 133(6), 135 and section 226 of, and the sixth schedule to, the Supreme Court of Judicature (Consolidation) Act 1925 (15 & 16 Geo. 5. c. 49).


    Notes




    References

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