Section 345: Investment of residue bequeathed for life, without direction to invest in particular securities.

The Indian Succession Act, 1925Central Act · Act 39 of 1925

(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.

Where this provision sits

Act	The Indian Succession Act, 1925
Section	345
Marginal note	Investment of residue bequeathed for life, without direction to invest in particular securities.
Jurisdiction	Central
Status	In force as published by the source

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