Chapter X — .—Of the Investment of Funds to Provide for Legacies

Section 342Investment of general legacy, to be paid at future time: disposal of intermediate, interest

Section 342: Investment of general legacy, to be paid at future time: disposal of intermediate, interest

342. Investment of general legacy, to be paid at future time: disposal of intermediate, interest

(1)

Where a general legacy is given to be paid at a future time, the executor or administrator shall invest a sum sufficient to meet it in securities of the kind mentioned in section 341.

(2)

The intermediate interest shall form part of the residue of the testator's estate.