Succession Act, 1925 — Section 341: Investment of sum bequeathed where legacy, not specific, given for life

341. Investment of sum bequeathed where legacy, not specific, given for life. Where a legacy, not being a specific legacy, is given for life, the sum bequeathed shall at the end of the year be invested in such securities as the High Court may by any general rule authorise or direct, and the proceeds thereof shall be paid to the legatee as the same shall accrue due. 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.