LawgistThe Indian Succession Act
342Investment of general legacy, to be paid at future time: disposal of intermediate, interest
(1) Where a general legacy is given to be paid at a future time, the executor or administrator shall invest a sum sufficient to meet it in securities of the kind mentioned in section 341.
(2) The intermediate interest shall form part of the residue of the testator's estate.
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CHAPTER X.--Of the Investment of Funds to Provide for Legacies
- 341 Investment of sum bequeathed, where legacy, not specific, given for life
- 342 Investment of general legacy, to be paid at future time: disposal of intermediate, interest
- 343 Procedure when no fund charged with, or appropriated to, annuity
- 344 Transfer to residuary legatee of contingent bequest
- 345 Investment of residue bequeathed for life, without direction to invest in particular securities
- 346 Investment of residue bequeathed for life, with direction to invest in specified securities
- 347 Time and manner of conversion and investment
- 348 Procedure where minor entitled to immediate payment or possession of bequest, and no direction to pay to person on his behalf
