An Act for settling Bonds of the Municipal Corporation of the City of Bombay producing an annual income of one lakh and twenty five thousand rupees and a Mansion-house and hereditaments called Petit Hall in the Island of Bombay, the property of Sir Dinshaw Manockjee Petit, Baronet, so as to accompany and support the title and dignity of a Baronet lately conferred by Her Present Majesty Queen Victoria on him for and during the term of his natural life, and from and immediately after his decease to hold to his second son, Framjee Dinshaw Petit, Esquire, and the heirs male of his body lawfully begotten, and in default of such issue with remainder to the heirs male of the body of the said Sir Dinshaw Manockjee Petit, and for other purposes connected therewith.
If at any time or times hereafter the
said Sir Dinshaw Manockjee Petit or any other person or persons shall be sons shall be desirous of
augmenting the funds and securities for the time being subject to the trusts of this Act, and for that purpose
and with that intent shall at his or her own expense transfer and deliver to the Corporation any stocks, funds
or securities of or the principal or interest of which is guaranteed by the Government of the United Kingdom
of Great Britain and Ireland or the Government of India, then and as often as the same shall happen the said
Corporation may, with the previous consent of the Governor of Bombay in Council, accept such stocks,
funds and securities, and the Same shall thenceforth be held by the said Corporation upon the same trusts
as are declared by this Act with regard to the said bonds of the Municipal Corporation of the City of
Bombay, or upon such of them as shall then be subsisting and capable of taking effect: Provided always
that the total amount of the stocks, funds and securities for the time being subject to the trust of this Act
shall at no time exceed fifty lakhs of rupees.
