16Provision in case of refusal or discontinuance of names of First Baronet
Provided always that in case any person who, for the time being, shall be the heir male of the body of the said First Baronet to whom the said title of Baronet shall have descended, shall for the space of one whole year after he shall, by virtue of this Act, become entitled to the dividends, interest, and income of the said stocks, funds, and securities or to the possession or receipts of the rents and profits of the said hereditaments; or, being then under age, shall for the space of one whole year after he shall attain the age of twenty-one years, refuse or neglect to use the names of "Jamsetjee Jejeebhoy" as hereinbefore enacted; or in case any such person having so used those name, shall, for the space of six calendar months consecutively during his natural life, discontinue so to use such names, then, in any or either of the said cases, the estate or interest of the person who shall so refuse or neglect to use, or, having used, shall so discontinue to use, the said names of "Jamsetjee Jejeebhoy" shall, during the remainder of his respective natural life, be suspended; and that during any and every such suspension, the dividends, interest, and income of the said stocks, funds and securities, and the possession and actual occupation, and also the rents and profits of the said hereditaments, shall devolve and belong to the person who as heir male of the body of the First Baronet, would have succeeded to, and been in the enjoyment of, the title of Baronet conferred by the said Letters Patent, in case the persons so refusing or neglecting to use, or discontinuing to use, the said names of "Jamsetjee Jejeebhoy" had departed this life; but if there should be no such heir male, then to the person or persons who would be entitled to the same in case there had then been a total failure of issue male of the First Baronet entitled to the said dignity of Baronet.
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- 1 Short title
- 2 Repeal of Act XX of 1860
- 3 The Commissioner for the Northern Division, the Accountant - General, and the Collector of Bombay to be a Corporation for execution of the Trusts of this Act
- 4 Present Baronet to continue to bear, and all future Baronet to take, names of First Baronet
- 5 Government Promissory Notes of a certain nominal value vested in Trustees
- 6 Powers of investment
- 7 Prohibition against varying investments without consent of person entitled to income
- 8 Power to Baronet for the time being to purchase land to erect a Mansion House thereon
- 9 Power to trustees to sell securities to produce funds to pay for land, etc
- 10 Power to Baronet for the time being to sell Mazngon Castle
- 11 Power to Trustees to apply proceeds of sale Mazagon Castle, not exceeding Rs. 2,75,000 in paying for land purchased and for erecting Mansion House th ere on, etc
- 12 Settlement of Mansion House, etc., in support of Baronetcy
- 13 Saving of rights of persons interested in reversion or remainder in Mazagon Castle on sale thereo
- 14 Declaration of Trusts as to surplus proceeds of sale of Mazagon Castle over and above the sum of Rs. 2,75,000
- 15 Power to Trustees to invest the surplus annual interest and income of the Trust Fund and p remises during the minority of any Baronet etc
- 16 Provision in case of refusal or discontinuance of names of First Baronet
- 17 Baronet in possession may jointure
- 18 Limit of aggregate of jointure payable contemporaneously
- 19 Mansion House and hereditaments not to be subject to joiuture
- 20 Alienation prohibited during the Baronetcy
- 21 Power to augment the funds and securities subject to the Settlement, provided that total amount of funds su bject to the Settlement shall not exceed fifty lakh
- 22 Provision as to insurances of Mazagon Castle, and other house or buildings purchased in lieu thereof
- 23 Directions for keeping Mazagone Castle, and other houses or buildings purchased in lieu thereof, in repair
- 24 Power to Trustees to sell land subject to Settlement
- 25 Directions as to how sale may be made
- 26 Direction as investment of proceeds of sale of lands
- 27 Declaration of Trusts as to investments of proceeds of sale of lands
- 28 Power to Baronet for the time being to enter into arrangement with Government as to land - revenue payable in respect of land purchased under section
- 29 Indemnity of Trustees
- 30 General saving clause