Subject to the provisions of this Chapter, moneys in the Fund shall be utilized to compensate any person who, after the commencement of this Act, suffers any loss or damage—
(a) as a result of—
| (i) | the failure of a sheriff to pay out or deliver to any such person any money or property over which he acquired control by virtue of his office, or the proceeds of the sale of such goods; or |
| (ii) | the act or omission of a sheriff or his deputy sheriff in connection with— |
| (aa) | the service or execution of any process; |
| (bb) | the arrest of any person; or |
| (cc) | subject to section 55, the rescue or escape of any person arrested by him or committed to his custody; and |
| (b) | for which the sheriff, the sheriff and his deputy sheriff jointly or his deputy sheriff is liable in law. |
