LawgistThe Indian Succession Act
345Investment of residue bequeathed for life, without direction to invest in particular securities
(1) Where the testator has bequeathed the residue of his estate to a person for life without any direction to invest it in any particular securities, so much thereof as is not at the time of the testator's decease invested in securities of the kind mentioned in section 341 shall be converted into money and invested in such securities.
(2) This section shall not apply if the deceased was a Hindu, Muhammadan, Buddhist, Sikh or Jaina or an exempted person.
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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
