Amendment status not verified — confirm the current text below against the official source.
4pp(icaliow of sinki,g /imd.—TIic L\VO Irustues referred u 111 sub-section (1) of section 10I in whose names aiiy sinking loud is • ;iflV$ted may, from time t tinle, apply Use same, or any part thereof' us Or towards the discharge uf! the loan or any part of the lostit for whichi such sinkiag - thoU was estabhisd and until such loan is wholly discliai-ged, sisal] not apply the same for any oilier jurposc. I 0 '-'lrinuat statejnnt by lrusttes.-.—( 1) ' The two tdu.sle(!s referred to All • stb.section- (1) Of sectictil 101 slidl ac. the ertd of-every year ) U'LliSiI1 to the Chairman, a sateiiient"showing- (a) th. amount which has beets invested during the ycat under sCction 101 • (b) the date-of-the 'last investment made previous to the ttaiisiiission of' the statement; the aggogatc iiznuutlt of the securities held by them the aggregateamount 'whkch has, upto tile, date of the statcijiciji, been 01)piied under section 102 in or tOwards lepayinil loans and the aggregate amount rilready paid into each sinking fluid. 3741580/2019/OS-HOUSING 193 'Ii) (2) Every mcli statement shall ie Ia cl hetbrc the Board and published iii the C azet te. 104.. Annual c.vaininatwn of sink/nt,' fwuA,'—( 1) The Accountant Goncral, Kerala, shall examine the said sinking lunds every. year and ascetain whether the cash and current value of the securities - at credit of such ftmd arc actually equal to the amount which would have atcrinulated; had investments been regularly made and had the rate of intct:est as oigina1ly estimated been obtained therefrom. (2) The Board shall forthwith pay into any I sinking hind any ;mOuni winch the ,\erountaut Geiwcal may certify to be the deficiency therein after cxairiiriatiou as aibresaici, unless the Government specially sanction a gradi ml rariji ist lent . 10.). E.cttmair.s of income and expenditure to be laid annually before the Board. —( I ) The Cl tairrnan shall, at a special meeting to be held iii the month ol F'cbr;utry iii each year, lay belore the Board an estimate of the mcoinc and expenditure of the Board for the next ensuing year. Every such estimate shall make prOvisiOn for the due. Ihlfflinni. of nih liabtit lies ol t:Iie Board, and for the efficient administratibu of, this Every smh estimate shall di fFcrejitj ale cdpital and revenue funds, and .hail be prepared itt such form, and shall cOntaih such detaihi, a the Guvc:rniuenl llwy. from time to tinic, prescribe. (I) hvcrv such estimate shall be completeA and printed and a copy titeteot sent, by posi or otherwise, 10 . each member at least ten clear days hefre the date ni tim meeting at which the cstdnat6 is (0 he laid before tim Board. (5) A revised budget, if any, including all- thh expenditure not covärccl in the original budget. estimate, shall be laid befor thd Board at a spccial meeting to be hiekt in thin month 01 Decenuber in catch 'cai. lOG. Saitciton of (lie Board to estiznaicc....... The Joarc1 shall consider --cry. minnie so laid htik,ic it and shall mud iOn ihc :semc, either without niodilicaLioti or with .itcls modification as it may t9ink flt.