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Section 32: Surplus how to be dealt with

The Kerala Court of Wards Act, 1967 (President's Act No.3 of 1967)State Act of Kerala · Act 3 of 1967

Any smplus whidt remains .1fter p10viding, ~o far as the court deems fit, for the objects mcntionetl in se(.t ion 31, shall be applied in the pUI chase of othet landed property, or invested at mterest on the security of-

(a) promissory notes, debentures, stock and other securities of the Government of India or of the Government of Kerala;

(b) stock, or debentures of, or shares in, compame~, the mterest whereon has been guaranteed by the Govenunenl of India;

(c) debentures or other securities for mo11ey tssued hy, or on behalf of, any local authority under the authority of any Act of the Legislature of any State ;

(d) such other securities, stock or shares guaranteed by the Government of Kerala or the Government of India as the court shnll deem fit; or

(e) first mm1gages of immovable p10pe1t}' situate in the State of Kerala, provided that the property is not a lea~ehold for a term of years and that the value of the property exceeds by one-third ot, if consisting of buildings, exceeds by one-half, the mortgage money.

Where this provision sits

ActThe Kerala Court of Wards Act, 1967 (President's Act No.3 of 1967)
Section32
Marginal noteSurplus how to be dealt with
JurisdictionState of Kerala
StatusIn force as published by the source

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