Section 20A
Power to purchase redeemable stock at a premium.
About this Act
An Act to define and amend the law relating to Private Trusts and Trustees.
1[20A. Power to purchase redeemable stock at a premium.--(1) A trustee may invest in any of the
securities mentioned or referred to in section 20, notwithstanding that the same may be redeemable and
that the price exceeds the redemption value:
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(2) A trustee may retain until redemption any redeemable stock, fund or security which may have been purchased in accordance with this section.]
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(2) A trustee may retain until redemption any redeemable stock, fund or security which may have been purchased in accordance with this section.]
Notes
1. Ins. by Act 1 of 1916, s. 3.
2. The proviso omitted by Act 34 of 2016, s. 3 (w.e.f. 17-4-2017).
2. The proviso omitted by Act 34 of 2016, s. 3 (w.e.f. 17-4-2017).