Fund - Page 5 - Law Dictionary

Trust Funds

Trust Funds. In addition to the securities mentioned in the instrument creating the trust, trustees may invest trust funds in securities specified in the Trustee Act, 1925, unless expressly forbidden by the trust deed. The effect of the Trusts (Scotland) Act, 1921, on Scots trusts should be noted. With regard to funds in Court, see R.S.C., Ord. XXII., r. 17, and County Courts Act, 1934, ss. 52 (3), 158...

Working funds

Working funds, the words 'working funds', when used in relation to a banking company, are not to be construed in their ordinary popular sense by reference to a dictionary. They have a history of their own and they have acquired a definite meaning. In the Sastri Award made in 1953 in regard to industrial disputes between certain banking companies and their workmen, the words 'working funds' were defined to mean paid-up capital, reserves and the average of the deposits for 52 weeks of each year for which weekly returns of deposits are submitted to the Reserve Bank of India under the provisions of the Reserve Bank of India Act. This is the sense in which they must be deemed to have been used by the legislature when it enacted clauses (ii) and (iii) of the proviso to Item 2 of the Third Schedule, Workmen of National & Grindlays Bank Ltd. v. National & Grindlays Bank Ltd., AIR 1976 SC 611: (1976) 1 SCC 925: (1976) 3 SCR 130...

Public funds

Public funds. See FUNDS....

South Sea Fund

South Sea Fund, the produce of the taxes appropri-ated to pay the interest of such part of the National Debt as was advanced by the South Sea Company and its annuitants. The holders of South Sea Annuities have been paid off, or have received other stock in lieu thereof, 2 Steph. Com., 7th Edn. 578...

Hedge fund

a mutual fund or partnership of investors who pool large sums of money to speculate in securities increasing the risk of such activity by using borrowed money to leverage the investments or by selling short...

Borough Fund

Borough Fund, the revenues of a municipal borough derived from the rents and produce of the land, houses, and stocks belonging to the borough in its corporate capacity, and supplemented where necessary by a borough rate. See ss. 138-144 of the (English) Municipal Corporations Act, 1882, which specifies the purposes to which it is legally applicable, and allows (s. 141) orders of a town council for payment of money out of it to be questioned by the High Court on certiorari....

international monetary fund (imf)

international monetary fund (imf) Agency of United Nations established to stabilize international exchange and promote balanced international trade. Source: FindLaw ...

Official trustees of charitable funds

Official trustees of charitable funds, officers of the Charity Commissioners appointed to hold stocks and securities belonging to charities: see (English) Charitable Trusts Act, 1853, s. 51; (English) Charitable Trusts Amendment Act, 1855, s. 18; (English) Charitable Trusts Act, 1887, s. 4....

Funded

Existing in the form of bonds bearing regular interest as funded debt...

fully funded

fully funded : having financial resources adequate to meet current retirement plan payments even in the event of bankruptcy ...

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