Login : Advocate | Client
Home Post Your Case My Account Law College Law Library

9. Power to trustees to sell securities to produce funds to pay for land, etc.-

The Corporation shall have power to sell a sufficient portion of the securities upon which the funds, which are subject to the Settlement effected by this Act, shall for the time being be invested to produce the sum which shall be required for the purpose of paying for any land which may be purchesed by the person for the time being entitled to, and in the enjoyment of, the title of Baronet conferred by the said Letters Patent under the powers conferred by section 8, and for erecting thereon a Mansion House, with the necessary or suitable accessory buildings, or for paying for the purchase of any land with a house or other building stading thereon which may be purchased under the powers conferred as aforesaid, and for pulling down the said buildings, and erecting a Mansion House, with the necessary or suitable accessory buildings, in liue thereof or for altering and adding to such buildings for the purpose of converting the same into a Mansion House, with the necessary or sutable accessary buildings, as the case may be: Proviso that total sum raised shall not exceed Rs. 2,25,000.-

Provided that the total sum raised by the Corporation under the power conferred upon them by this section for the sale of the said securities above-mentioned shall not exceed two lakhs and twenty five thousand rupees.

Sir Jamsetjee Jejeebhoy Baronetcy Act, 1915 Back

Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys