- If the ward is not a female or male as aforesaid, and if any surplus remains after providing so far as the Court may think fit, for the objects mentioned in Section 48, the same shall be applied in the purchase of other landlord property, or invested at interest on the security of-promissory notes, debentures, stocks and other securities of the Central Government or the Government of the United Kingdom of Great Britain and Ireland;bonds, debentures and annuities, which before the fifteenth day of August, 1947 were charged by an Act of Parliament of the United Kingdom on the revenue of India or of any State;stock or debentures of or shares in railway or other companies, the interest whereon had, before the Fifteenth day of August, 1947, been guaranteed by the Secretary of State for India in Council;debentures or other securities for money paid by or on behalf of the municipal body under the authority of any Central or Provincial Act or Act of the Legislature of a Part A State or Part C State; orsuch other securities, stocks or shares, guaranteed by I he Central Government or the State Government as to the Court shall seem fit; ormortgages on immovable property.
