Indian Succession Act : Time and manner of conversion and investment. Indian Bare Acts :

Indian Succession Act,1925

Act No : 39

Section : Time and manner of conversion and investment.

347. Time and manner of conversion and investment.-Suchconversion and investment as are contemplated by sections 345 and 346shall be made at such times and in such manner as the executor oradministrator thinks fit; and, until such conversion and investmentare completed, the person who would be for the time being entitled tothe income of the fund when so invested shall receive interest at therate of 4 per cent. per annum upon the market-value (to be computed asat the date of the testator's death) of such part of the fund as hasnot been so invested: Provided that the rate of interest prior to completion ofinvestment shall be six per cent. per annum when the testator was aHindu, Muhammadan, Buddhist, Sikh or Jaina or an exempted person.