Bare Acts

An Act for repealing Act No. 20 of 1860 entitled An “Act for settling Promissory Notes of the Government of India, producing an annual income of one lakh of rupees and a Mansion House and hereditaments called Mazagon Castle, in the Island of Bombay, late the property of Sir Jamsetjee Jejeebhoy, Baronet, deceased, so as to accompany and support the title and dignity of a Baronet, lately conferred on him and the heirs male of his body, by Her present Majesty Queen Victoria, and for other purposes connected therewith,” and for resettling the said Promissory Notes, Mansion House and hereditaments and for other purposes connected therewith. WHEREAS by Letters Patent of Her late Majesty Queen Victoria, by the Grace of God of the United Kingdom of Great Britain and Ireland Queen, Defender of the Faith, dated at Westminster on or about the 6th day of August in the 21st year of Her said late Majesty’s reign, and by Warrant under Her said late Majesty’s sign-manual, Her said late Majesty made known that she, of her special grace, certain knowledge and mere motion had erected, appointed and created Sir Jamsetjee Jejeebhoy, then of Bombay, Knight, but then deceased (a man eminent for family inheritance, estate and integrity of manner), to and into the dignity, state, and degree of a Baronet, and him, the said Sir Jamsetjee Jejeebhoy for Her said late Majesty, her heirs, and successors, she did erect, appoint, constitute and create a Baronet, by the said Letters Patent, to hold to him and the heirs male of his body lawfully begotten, and to be begotten for ever: And whereas in fulfilment of an engagement in that behalf made with Her said late Majesty’s Government, during the lifetime of the said Sir Jamsetjee Jejeebhoy, deceased, the said Sir Jamsetjee Jejeebhoy was desirous of settling in perpetuity such property on himself and the heirs male of his body who might succeed to the said Baronetcy, as should be adequate to support the dignity of the title conferred on him and them as aforesaid: And whereas the said Sir Jamsetjee Jejeebhoy was seized of a Mansion House and hereditaments situate in the Island of Bombay called Mazagon Castle, and had an absolute estate of inheritance therein, and was desirous, in fulfilment of the aforesaid engagement, of settling Promissory Notes of the Government of India, producing an annual income of one lakh of rupees and the said Mansion House and the purposes in the said Act No. 20 of 1860 limited and declared, concerning the same respectively: And whereas the said Sir Jamsetjee Jejeebhoy was also desirous that the heirs male of his body to whom the said title and dignity of Baronet should descend, should take and bear the names of “Jamsetjee Jejeebhoy,” in lieu of any other name or names whatever which they respectively might bear at the time of such descent on them respectively; and he was also desirous that the Revenue Commissioner for the Northern Division of the Presidency of Bombay, the Accountant-General, and the Sub-Treasurer at Bombay, for the time being should be Trustees for the aforesaid Promissory Notes, and be likewise the Trustees for carrying into execution the general purposes and powers of the said Act No. 20 of 1860, with relation to the same securities, and also with relation to the same Mansion House and hereditaments: And whereas the said Sir Jamsetjee Jejeebhoy departed this life on the 14th day of April, 1859, before the aforesaid engagement with Her said late Majesty’s Government was carried out on his part, and by Will, dated the 9th day of April, 1853, duly signed and executed by him, gave and devised the residue of his estate, houses, lands, securities, moneys and effects, to and amongst his sons Cursetjee Jamsetjee, Rustomjee Jamsetjee, and Sorabjee Jamsetjee, and appointed his wife Avaboye and his said three sons, the executrix and executors of his said Will; and the said Will was duly proved by the said Cursetjee Jamsetjee, Rustomjee Jamsetjee and Sorabjee Jamsetjee alone: 4 And whereas on the death of the said Sir Jamsetjee Jejeebhoy, the said title or dignity of Baronet, created by Her Majesty’s said Letters Patent, devolved on and became and was at the date of the passing of the said Act No. 20 of 1860 vested in the said Cursetjee Jamsetjee, as the eldest son and heir male of the body of the said Sir Jamsetjee Jejeebhoy, deceased: And whereas the said Cursetjee Jamsetjee, the second Baronet, Rustomjee Jamsetjee, and Sorabjee Jamsetjee, as the sons, residuary legatees and Executors of the said Sir Jamsetjee Jejeebhoy, first Baronet, deceased, and the said Avaboye, being then the Dowager Lady Jejeebhoy, as Executrix of the said Sir Jamsetjee Jejeebhoy, first Baronet, deceased, in fulfilment of the engagement so as aforesaid entered into by the said Sir Jamsetjee Jejeebhoy, first Baronet, deceased, with Her said late Majesty’s Government, were desirous of settling the said Government Promissory Notes and the said Mansion House and hereditaments so as aforesaid agreed to be settled by the said Sir Jamsetjee Jejeebhoy, first Baronet, deceased, for the purpose of supporting the dignity of the said Baronetcy, to the uses upon the Trusts, and for the purposes in the said Act No. 20 of 1860 limited and declared concerning the same respectively: And whereas the said Dowager Lady Jejeebhoy was desirous that the said Mansion House and hereditaments called Mazagon Castle, with their rights, members and appurtenances should be released, exonerated, and discharged from her right, or title (if any) to dower or thirds, and every other right, interest, or estate whatsoever which she, the said Dowager Lady Jejeebhoy, might have or claim to have in the said premises under any custom or law of the Parsees, or otherwise howsoever: And whereas in order to give effect to the aforesaid purposes, the said Act No. 20 of 1860 was passed, and by the said Act it was inter alia enacted that the Revenue Commissioner for the Northern Division of the Presidency of Bombay, the Accountant-General, and the Sub-Treasurer at Bombay, should, for the purposes of the said Act, be a Corporation; and that such Revenue Commissioner, Accountant-General, and Sub-Treasurer, should be, and they were thereby constituted, as such Corporation, the Trustees for executing the powers and purposes of the said Act; and that all the powers by the said Act vested in such Revenue Commissioner, Accountant-General, and Sub-Treasurer, as Trustees for the purposes of the said Act, should be exercised by the persons for the time being acting as such Revenue Commissioner, Accountant-General, and Sub-Treasurer; and that immediately from and after the passing of the said Act, Promissory Notes of the Government of India, producing an annual income of not less than one lakh of rupees should be transferred into the name of the said Corporation, who should hold the same upon the trusts and for the purposes in the said Act expressed concerning the same (that was to say); upon the trusts in the said Act declared and set forth: And it was also enacted that the said Mansion House and other hereditaments called Mazagon Castle, situate in the Island of Bombay, with their rights, members, and appurtenances, of which the said first Baronet was seized to him and his heirs, should by force of the said Act from and immediately after the passing thereof, stand limited to the uses in the said Act set forth: And whereas Promissory Notes of the Government of India producing at that time an annual income of not less than one lakh of rupees, were, after the passing of the said Act, transferred into the name of the said Corporation; and the nominal amount of the Promissory Notes of the Government of India, now held by the said Corporation, is rupees twenty-two lakhs, fifty-four thousand and four hundred: And whereas the persons now constituting the said Corporation under or by virtue of the said Act are the Commissioner for the time being for the Northern Division of the Presidency of Bombay, the Accountant-General of Bombay, and the Collector of Bombay: And whereas under the said Act 20 of 1860 power was granted to the said Corporation to invest the Government Promissory Notes so to be transferred into the name of the said Corporation as aforesaid if the same should be discharged by the Government of India in or on any stocks, funds or securities of the Government of the United Kingdom of Great Britain and Ireland or of the Government of India, and in like manner, as often as the same should become necessary, to alter, vary, and change such stocks, funds, and securities for others of the same or a like nature: And whereas Sir Jamsetjee Jejeebhoy, the fifth and present Baronet, has represented to the Governor General in Council that it is desirable, not only in his own interest, but also in the interest of those who may succeed him in the Baronetcy, that more extensive powers of investment should be granted to the said Corporation: 5 And whereas more extensive powers of investment have been allowed to Trustees of Settlements which are governed by the Indian Trusts Act, 1882 (2 of 1882): And whereas it appears that certain of the powers last aforesaid may safely be granted to the said Corporation with a view to a higher rate of interest being obtained from the investment of the funds for the time being subject to the Trusts of a Settlement effected by this Act: And whereas at the date when the said Act No. 20 of 1860 was passed the locality in which the said Mansion House and hereditaments are situate was one of the principal residential localities of Bombay, and was healthy, but it has now ceased to be a healthy locality, and the upper classes of the inhabitants of Bombay have ceased to reside there: And whereas the said Sir Jamsetjee Jejeebhoy has represented to the Governor General in Council that he has been advised by his medical adviser and by Sanitary Authorities whom he has consulted that it necessary for him to change his place of residence and to live in a more healthy part of the Island of Bombay, and has also represented that, by reason of the present unhealthiness of the locality, future and succeeding Baronets, who may succeed to the said title of Sir Jamsetjee Jejeebhoy, will be unable to live in the said Mansion House, or on the said hereditaments, and therefore that it is both desirable and necessary for him to purchase a new residence in a healthy locality in the Island of Bombay, and that, to enable him to do this, it is necessary that power should be conferred to sell the said Mansion House and hereditaments, and also to sell a portion of the said securities to purchase a new residence out of the proceeds of the sale thereof: And whereas the said Corporation, being the Trustees for the time being for executing the powers and purposes of the said Act 20 of 1860, have agreed to the above proposals being carried into effect: And whereas all the possible Beneficiaries of the Trust under the said Act now living have agreed to the above proposals, with the exception of those relating to the sale of the said Mansion House and hereditaments: And whereas all the possible Beneficiaries of the Trust under the said Act, with the exception of two possible Beneficiaries, have agreed to the said proposals relating to the sale of the said Mansion House: And whereas the objections advanced by and on behalf of the said two possible Beneficiaries have been duly considered by the Governor General in Council and have been overruled: And whereas it is deemed expedient to confer the said powers, and, for that purpose and for other divers good reasons, it is expedient to repeal the said Act XX of 1860, and to substitute the following Act in lieu thereof: It is hereby enacted as follows:—