Section 17

Investments and lands resulting from such sale or exchange to be held on trusts declared by this Act.

The Sir Dinshaw Manockjee Petit Act, 1893

Act 6 of 1893
Ministry of Home Affairs
Department of States

About this Act

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.

All sections

And it is hereby declared that the stocks, funds and securities and the lands or hereditaments, respectively, so to be purchased or taken in exchange as aforesaid shall from and immediately after the completion of the purchase or exchange thereof, respectively, be held upon the trusts in and by this Act declared of and concerning the said bonds of the Municipal Corporation for the City of Bombay and the said Mansion-house and premises called “Petit Hall, respectively, or such of them, respectively, as may then be subsisting and capable of taking effect.