Cap. 55 Art. 24ANotarial Deposit Account.

(1) Every notary, except those referred to in article 22, shall open an account with a local commercial bank, to be designated a "Notarial Deposit Account", in which he shall deposit all monies deposited with him in his professional capacity: Provided that where the notary closes such account he shall, unless he has already done so, open another one with the same or a different local bank in such a way that he shall always have one such account open: Provided further that the notary may open more than one such account.

(2) The notary shall inform the Notarial Council in the manner and within the time prescribed of the opening and closing of the accounts referred to in sub-article (1).

(3) The notary shall keep a register in the manner prescribed

*the addition of this Title, by article 19 of Act XXIV of 2011, is subject to the provisions of article 103(1) of the same Act. wherein he shall list all the monies deposited in and withdrawn from the accounts mentioned in sub-article (1), and he shall note therein all other information as may be prescribed: Provided that the notary shall not divulge any information referred to in this sub-article except upon an order of a court.

(4) The notary shall hold monies deposited in such accounts in the name of the persons entitled thereto, and he shall be obliged to pay the equivalent of such monies to such persons as and when the monies become due. Any interest which may accrue in such accounts shall appertain solely to the notary as his remuneration for the service he gives in holding such deposits and operating such accounts.

(5) (a) Notwithstanding any law to the contrary, the existence of such accounts, duly registered with the Notarial Council, shall have the following legal effects, namely:

(i) the personal creditors of the notary shall have no recourse against the monies held in the accounts;

(ii) monies held in such accounts shall not form part of the notary’s personal estate upon his insolvency; and

(iii) monies held in such accounts shall not form part of the matrimonial property of the notary or his spouse, unless the notary or his spouse proves that he is entitled to any of such monies.

(b) Without prejudice to the legal effects set out in paragraph (a):

(i) upon the notary’s demise, his universal heirs shall succeed to the same rights and obligations which the deceased notary had with regard to such accounts; and

(ii) where the notary ceases to perform his functions for reasons other than the one referred to in sub-paragraph (i), he shall retain his rights and obligations with regard to such accounts, even if a notary keeper of his acts has been appointed.

(6) Where a notary fails to register the opening of such accounts with the Notarial Council, the monies deposited therein shall not have the legal effects set out in sub-article (5)(a).

(7) The provisions of sub-article (6) shall not apply:

(i) to monies deposited in such accounts, or

(ii) to monies which are no longer in such accounts, or

(iii) to monies which were never deposited in such accounts, if the notary or any person proves by documentary evidence or witnesses or any other means allowed under the provisions of the Code of Organization and Civil Procedure that he is entitled thereto.

(8) The Notarial Council shall keep a record of Notarial Deposit Accounts in the manner prescribed and shall, in the circumstances and manner prescribed, confirm the existence of such accounts to any court, any local bank, any of the universal heirs of a deceased notary or to any other person as may be prescribed.

(9) Notaries shall each year confirm to the Notarial Council the details of such accounts currently held by them.

(10) The Minister responsible for notarial affairs may from time to time, after consulting the Notarial Council, make regulations generally for carrying out the provisions of this article and for such matters as are authorised by this article to be prescribed.