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RAILWAYS ACT (IRELAND) 1860 - SECT 4

Deposit to remain as a security, and to be applied under direction of the High Court.

4. ... The sum or sums of money so [paid into the Supreme Court is] by way of
security to the parties respectively in respect of whose interests in the
lands which shall so have been entered upon such sum or sums shall have been
deposited, for the payment of the money to become payable by the company to
such parties respectively for their respective interests in such lands under
the award of the arbitrator; ...; and upon such payment as aforesaid by the
company it shall be lawful for the [High Court of Justice in Northern
Ireland], upon a like application, to order the money so deposited, or the
funds in which the same shall have been invested, together with the
accumulation thereof, to be repaid or transferred to the company; or in
default of such payment as aforesaid by the company, it shall be lawful for
the said Court to order the same to be applied in such manner as it shall
think fit for the benefit of the parties for whose security the same shall so
have been deposited.

© 1860 Crown Copyright

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