Para 3.11.10 — MSO

Personal Deposits 3.11.10 Personal Deposits are maintained in the treasuries in the nature of banking accounts. These are commonly known as Personal Ledger Accounts or Personal Deposit Accounts and are established either under statutory provisions of the Government or created under any law or rule having the force of law by transferring funds from the Consolidated Fund of the State for discharging liabilities of the Government arising out of special enactments. Ordinarily, Government sanctions the opening of a banking deposit account or of a Personal Ledger Account after consultation with the Accountant General (A&E). It is generally recognized that Government should not agree to the opening of such an account unless it is satisfied that the initial accounts of moneys in the Personal Ledger Account are properly maintained and are subject to audit.