Amendment status not verified — confirm the current text below against the official source.
(1) All money paid into any sinking fund shall as soon as possible be invested, under the borders of the Board, in.-- (a) Government securities, or (b) securities guaranteed by the Central or any State Government, or (c) debentures issued by the Corporation, or (d) debentures issued by the board, in the joint names of the Secretary to the government of Kerala in the finance Department and the Member, Board or Revenue, in charge of Housing, to be held by them as trustees for the purpose of repaying from time to time the debentures issued by the Board. (2) All dividends and other sums received in respect of any such investment shall, as soon as possible after receipt, be paid into the appropriate sinking fund and invested in the manner prescribed by sub-section (1). (3) Any investment made under this section may, from time to time, subject to the provisions of sub-section (1), be varied or transposed.