Indian Succession Act : Investment of residue bequeathed for life, without direction to investin

Indian Succession Act,1925

Act No : 39

Section : Investment of residue bequeathed for life, without direction to investin particular securities.

345. Investment of residue bequeathed for life, without directionto invest in particular securities.-(1) Where the testator hasbequeathed the residue of his estate to a person for life without anydirection to invest it in any particular securities, so much thereofas is not at the time of the testator's decease invested in securitiesof the kind mentioned in section 341 shall be converted into money andinvested in such securities. (2) This section shall not apply if the deceased was a Hindu,Muhammadan, Buddhist, Sikh or Jaina or an exempted person.