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15. Power to Trustees to invest the surplus annual interest and income of the Trust Fund and premises during the minority of any Baronet, etc.-

The Corporation during the minority of any person for the time being entitled to, and in the enjoyment of, the title of Baronet under the limitations of the said Letters Patent, shall pay and apply for and towards the maintenance, education, and benefit of such Baronet, in each and every year during his minority so much only of the annual interest, dividends and income of the said Trust Funds and premises as the Corporation shall, in their discretion, think proper; and shall, from time to time, invest the residue of the said annual dividends, interest, and income of the said Trust Funds and premises in and upon some one or more of the investments authorised by this Act for the investment of the said Trust Funds; and shall, upon such Baronet attaining his majority, pay over, transfer, and assign to him, or as he shall direct and for his own absolute benefit, the said investments and all accumulations thereof.

Sir Jamsetjee Jejeebhoy Baronetcy Act, 1915 Back

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