The Indian Succession Act

Investment of sum bequeathed, where legacy, not specific, given for life

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

Procedure when no fund charged with, or appropriated to, annuity

Transfer to residuary legatee of contingent bequest

Investment of residue bequeathed for life, without direction to invest in particular securities

Investment of residue bequeathed for life, with direction to invest in specified securities

Time and manner of conversion and investment

Procedure where minor entitled to immediate payment or possession of bequest, and no direction  to pay to person on his behalf


CHAPTER X.--Of the Investment of Funds to Provide for Legacies


(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.

LAWGIST

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