# 345 Investment 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 life342
Investment of general legacy, to be paid at future time: disposal of intermediate, interest343
Procedure when no fund charged with, or appropriated to, annuity344
Transfer to residuary legatee of contingent bequest346
Investment of residue bequeathed for life, with direction to invest in specified securities347
Time and manner of conversion and investment348
Procedure where minor entitled to immediate payment or possession of bequest, and no direction to pay to person on his behalf
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