Interpretation
J.Y. Interpretation |
NO. 83
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Date |
1959/10/21 |
Issue |
When a local court is located near an agential bank of the national treasury, shall the money, negotiable securities, and valuables of lodgment lodged in the court be deposited under custody of the treasury sector of the agential bank? |
Holding |
1 When a district court is located near an agential bank of the national treasury, the district court should deposit the money, negotiable securities, and valuables of lodgment under the custody of the treasury sector of the agential bank, which should pay interest to the court pursuant to Article 8 of the Lodgment Law.
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Reasoning |
1 Pursuant to Article 4, Paragraph 2, of the Lodgment Law, the money, negotiable securities and valuables of lodgment lodged at a court should be under the custody of the treasury sector of an agential bank of the national treasury. The purpose of the Article is to protect the benefits of the shareholders of the lodgment because a lodgment under the custody of the treasury sector of a bank is more secure than a lodgment in the business department of a bank. Furthermore, pursuant to Article 8 of the Lodgment Law, interest should be paid on the receiving by the court and saving at the treasury sector of an agential bank . According to a letter issued in reply to this matter by the Ministry of Finance, “Any deposit made into the national treasury can receive interest.” This is in accordance with the content of Article 8 of the Lodgment Law, which provides that the money, negotiable securities and valuables of lodgment lodged in a court should be deposited into an agential bank of the national treasury. 'Translated by Lawrence L. C. Lee.
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