45. Application of Rule to subordinate Courts. - The Rule contained in this Chapter shall, so far as may be and with necessary modifications and adaptations, also apply to proceedings under the Act in subordinate Courts.]
Appendix to Chapter XXXRules Under Sections 223 and 236 of the Indian Succession Act, 1925The following Rules have been made by the Government under Sections 223 and 236 of the Indian Succession, Act 1925, for the issue of grants of probate and letters of administration to companies, namely-(1)In these Rules-(a)"Share capital" includes stock; and(b)"Trust business" means the business of acting as trustee under wills and settlements and as executor and administrator.(2)The condition to be satisfied by a company in order to render it eligible for the grant of probate or Letters of Administration under the Indian Succession Act,1925, shall be the following, namely--(1)The company shall be either--(a)a company formed and registered under the Indian Companies Act, 1913, or under the Indian Companies Act, 1866, or under any Act or Acts repealed thereby, or under the Indian Companies Act, 1882, or a company formed under any other Act of the Governor Generalin- Council or of the Indian Legislature, or(b)a company constituted under the law of the United Kingdom of Great Britain and Northern lreland or any part thereof, and having a place of business in India, or(c)a company established by Royal Charter having a place of business in India.(2)The company shall be a company empowered by its constitution to undertake trust business.(3)The company shall have a share capital for the time being subscribed of not less than--(a)rupees 10 lakhs in the case of a company of the description specified in sub-clause (a) of Clause (1), and(b)pound 1,00,000 in the case of a company of the description specified in sub-clause (b) of Clause (1), of which at least one-half shall have been paid in cash :Provided that the President may exempt any company from the operation of this clause.
