Amendment status not verified — confirm the current text below against the official source.
Investment if stnkingfunds.-(1) All money paid i11to any sinking fund shall as soon as poSSible be invested, under the orders of the Board, in- (a) Government securities, or (b) securities guaranteed by the Central or any State Govern- ment, or (c) debentures issued by the Corporation, or (d) debentures issued by the Board, in the joint names of the Secretary to the Government ofKerala in the Fmance Department and the Member, Board of Revenue, m charge of Housing, lo be held by them as trustees for the purpose of repaying from time to time the debentures issued by the Board. • • (2) All dividents and other sums received in respect of any such investment shall, as soon as po~s1ble after receipt, be paid into the appropriate sinking fund and invested m the manner prescnbed by sub- section ( 1). (3) Any investment made under this section may, from time to time, subject to the prov1sions of sub-sect10n (I), be varied or trans- posed. 104.' Appluatwn of sinking funds.-The two trustees referred to in sub- secuon ( 1) of section 103 ill whose names any sinking fund is invested may, from t1me to time, apply the same, or any part thereof, in or towards the d1scharge of the loan or any part of the loan for wh1ch such fund was estabhshed; and unt1l such loan is wholly d1scharged, ~hall not apply the same for any other purpose.