Vol. 426 No. 2
48 Mr. Shatter asked the Minister for Justice if she will put in place a set of guidelines with regard to the investment of funds by the Circuit Court and the High Court exercising their respective Wards of Court jurisdiction where such funds are held for the benefit of a minor; and the guidelines, if any, which currently apply in this regard.
Funds in the jurisdiction of the High and Circuit Courts are invested on direction of the President of the High Court and the presiding Judge of the Circuit Court respectively in accordance with the Trustee (Authorised Investments) Act, 1958.
The Constitution provides that the Judiciary are independent in the exercise of their judicial functions. Accordingly, it is not open to me to intervene in any way in this matter.
The Trustee (Authorised Investments) Act, 1958 sets out those investments in which money under the control or subject to the order of any Court may be invested.
The list of trustee authorised investments is determined by the Minister for Finance and is updated periodically.
