12. – (1) A guardian must, unless in any case the Court considers that it is unnessary, as soon as may be after his appointment furnish the Court with a complete statement of the infant’s property, accompanied with an approximate estimate of the income and capital value of each item.
(2) It shall be the duty of the guardian to give such information to the Court as may be necessary for the purpose of keeping the statement of the infant’s property correct for the time being.
13.- (1) A guardian, if not a Registrar of the Court, must give security to the Court for the due application of the infant’s property unless the Court dispenses with security under this Rule.
(2) The Court may, on the appointment of a guardian, or at any time during his continuance in office as guardian, dispense with security on the application either of the person who is to be appointed or is guardian or of any person appearing to the Court to be interested in the infant.
(3) The security must be given by a bond in Form 4, or otherwise, as the Court directs, and with such sureties as the Court approves.
(4) If the Court is satisfied that sufficient provision is made for the safety of the capital of the infant’s property the amount of the security shall, in ordinary cases, be an amount exceeding by fifty per centum the income of the trust property as estimated by the Court.
(5) The Court may at any time require that the amount or nature of the security given by a guardian under this Rule be varied or that security be given where it has previously been dispensed with and a guardian shall comply with any such requirement.
(6) It shall be a condition of every bond or other form of security given under this Rule that the guardian shall give immediate notice to the Court of the death or insolvency of any of his sureties.
(7) Any bond or other form of security given for the purpose of this Rule may be vacated in such manner and subject to such conditions as the Court may direct.
(8) Where security is not dispensed with the appointment of a person to be guardian shall not take effect until he has given the security required by the Court under this Rule.
(9) Any premium payable by a gardian to any guarantee company on account of his security may, if the Court so directs, be paid out of the trust property.
14. (1) Subject to the provisions of paragraph (7) of this Rule, when a guardian is appointed a separate account for receipts and payments on behalf of the trust must be kept in the name of the guardian at some bank approved by the Court.
(2) All title deeds and all certificates and other documents which are evidence of the title of the guardian to any of the trust property shall be deposited either with that bank or in such other custody as the Court directs.
(3) The deeds or documents are so deposited to allow any person authorised by the Registrar of the Court in wirting to inspect them during business hours.
(4) The guardian must deposit with the Court a list of all deeds or documents deposited in any custody in prusuance of this Rule and must give information to the Court from time to time of any variation to be made in the list.
(5) The guardian must, if at any time directed by the Court, give an order to the bank at which the trust account is kept not to pay at any one time any sum over a specified amount out of the trust account except n an order countersigned by the Registrar of the Court.
(6) The Court may give such directios to the guardian as may in the opinion of the Court be necessary or expedient for carrying ths Rule inot effect, and for securing the safety of the infant’s property.
(7) Where compliance with the provisions of this Rule would cause special inconvenience or hardship, the Chief Justice in respect of any particular class of trust properties, or a President of a District Court in respect of an particular trust property may, by direction, exempt the guardian of such property or properties from compliance with all or any of the provisions of this Rule.
15. Subject to the provisions of paragraph (7) of Rule 14, a guardian must pay all money coming into his hands on account of his trust without delay to the trust account at the bank, and if he keeps any such money in his hands for a longer time than the Court considers necessary shall be liable to pay interest upon it at such rate not exceeding nine per centum as the Court may fix for the time during which the money remains in his hands.
16. (1) A guardian may at any time request the Court to give him directions as to the infant’s property or its administration.
(2) The request must be accompanied by a statement of the facts with regard to which directions are required, and by the prescribed fee, where necessary, in respect of a communication from the Court with regard to the administration of the infant’s property.
(3) The Court may require the guardian or any other person to attend at chambers if it appears that such an attendance is necessary or convenient for the purpose of obtaining any informaton or explanation required for property giving directions or for the purpose of explaining the nature of the directions.