ISUA 342 — Investment of general legacy, to be paid at future time: disposal of intermediate, interest

Indian Succession Act, 1925

Statutory text

(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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