Section 40Part 8 — Miscellaneous Provisions
Application of money paid for lease or reversion
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40. Where capital money arising under this Law is purchase money paid in respect of a lease for years, or life, or years determinable on life, or in respect of any other estate or interest in land less than the fee simple, or in respect of a reversion dependent on any such lease, estate or interest, the trustees of the settlement or the Court, as the case may be, and, in the case of the Court, on the application of any party interested in that money, may, notwithstanding anything in this Law, require and cause the same to be laid out, invested, accumulated and paid in such manner as, in the judgment of the trustees or of the Court, as the case may be, will give to the parties interested in that money, the like benefit therefrom as they might lawfully have had from the lease, estate, interest or reversion in respect whereof the money was paid, or as near thereto as may be. Settled Land Law Section 41 c Revised as at 30th day of June, 1998 Page 27