Indian Trusts Act,1882

Act No : 2

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Section : Power to purchase redeemable stock at a premium

2*[20A. Power to purchase redeemable stock at a premium.-(1) Atrustee may invest in any of the securities mentioned or referred toin section 20, notwithstanding that the same may be redeemable andthat the price exceeds the redemption value: Provided that a trustee may not purchase at a price exceeding itsredemption value any security mentioned or referred to in clauses (c)and (d) of section 20 which is liable to be redeemed within fifteenyears of the date of purchase at par or at some other fixed rate, orpurchase any such security as is mentioned or referred to in the saidclauses which is liable to be redeemed at par or at some other fixedrate at a price exceeding fifteen per centum above par or such otherfixed rate. (2) A trustee may retain until redemption any redeemable stock,fund or security which may have been purchased in accordance with thissection.]

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