THE SIR JAMSETJEE JEJEEBHOY BARONETCY ACT, 1915

ACT NO. 10 OF 1915 · Enacted [8th September, 1915.] · 30 sections

Section 1.Short title.

Section 2.Repeal of Act XX of 1860.

Section 3.The Commissioner for the Northern Division, the Accountant-General, and the Collector of Bombay to be a Corporation for execution of the Trusts of this Act.

Section 4.Present Baronet to continue to bear, and all future Baronet to take, names of First Baronet.

Section 5.Government Promissory Notes of a certain nominal value vested in Trustees.

Section 6.Powers of investment.

Section 7.Prohibition against varying investments without consent of person entitled to income.

Section 8.Power to Baronet for the time being to purchase land to erect a Mansion House thereon.

Section 9.Power to trustees to sell securities to produce funds to pay for land, etc.

Section 10.Power to Baronet for the time being to sell Mazngon Castle.

Section 11.Power to Trustees to apply proceeds of sale Mazagon Castle, not exceeding Rs. 2,75,000 in paying for land purchased and for erecting Mansion House thereon, etc.

Section 12.Settlement of Mansion House, etc., in support of Baronetcy.

Section 13.Saving of rights of persons interested in reversion or remainder in Mazagon Castle on sale thereof.

Section 14.Declaration of Trusts as to surplus proceeds of sale of Mazagon Castle over and above the sum of Rs. 2,75,000.

Section 15.Power to Trustees to invest the surplus annual interest and income of the Trust Fund and premises during the minority of any Baronet etc.

Section 16.Provision in case of refusal or discontinuance of names of First Baronet.

Section 17.Baronet in possession may jointure.

Section 18.Limit of aggregate of jointure payable contemporaneously.

Section 19.Mansion House and hereditaments not to be subject to joiuture.

Section 20.Alienation prohibited during the Baronetcy.

Section 21.Power to augment the funds and securities subject to the Settlement, provided that total amount of funds subject to the Settlement shall not exceed fifty lakh.

Section 22.Provision as to insurances of Mazagon Castle, and other house or buildings purchased in lieu thereof.

Section 23.Directions for keeping Mazagone Castle, and other houses or buildings purchased in lieu thereof, in repair.

Section 24.Power to Trustees to sell land subject to Settlement.

Section 25.Directions as to how sale may be made.

Section 26.Direction as investment of proceeds of sale of lands.

Section 27.Declaration of Trusts as to investments of proceeds of sale of lands.

Section 28.Power to Baronet for the time being to enter into arrangement with Government as to land- revenue payable in respect of land purchased under section 8.

Section 29.Indemnity of Trustees.

Section 30.General saving clause.