Amendment of section 3 of Act VI of 1893

In section 3 of the principal Act,—

1. (1) for the words "shall be sold by the said Trustees at their discretion", the words "shall be sold by the said Trustee at his discretion" shall be substituted;
2. (2) after the words "or the Central Government", the words and figures "or any State Government or invest such sum in units from the Unit Trust of India as established under the Unit Trust of India Act, 1963, or deposit it with a banking company to which the Banking Regulation Act, 1949, applies including any bank or banking institution referred to in section 51 of that Act or deposit it with a financial corporation if repayment of such deposit together with interest is guaranteed by the Central Government or State Government" shall be and shall be deemed to have been inserted with effect from the 1st day of September 1969; and any such sum invested accordingly shall be deemed to have been duly invested, as if the provisions of this section had then been in force.