Page:A Collection of the Acts passed by the Governor General of India in Council, 1916.pdf/6

DOW section TL of 1889. pnresse goremium. 2 Indian Trusts (Amendment). [ ACT I Espertion of 3. After section 20 of the said Act; the follow. DOA in Acting section shall be inserted, namely Power to " 20A. (1) A trustee may invest in any of the securities mentioned or referred to in section 20, redeemable zatook at notwithstanding that the same may be redeemable. and that the price exceeds the redemption value; Provided that a trustee may not purchase at a price exceoding its redemption value any security mentioned or referred to in clauses (c) and (d) of sec- tion 20 which is liable to be redeemed within fifteen years of the date of purchase at par or at some other fixed rate, or purchase any such security as is men- tioned or referred to in the said clauses which is liable to be redeemed at par or at some other fixed rate at a price exceeding fifteen per centum above par or such otlier fixed rate. (2) A trustee may, retain until redemption any redeemable stock, fund or security, which may have been purchasod in accordance with this section,