Mera Samvidhaan All of Indian Succession Act, 1925

Part IX · Chapter X · Of the Investment of Funds to Provide for Legacies

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

Section 342 · Part IX · Chapter X · page 87 of the Act

(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.

Section 342 of The Indian Succession Act, 1925 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.