Amendment status not verified — confirm the current text below against the official source.
(1) A sinking fund established under section 68 shall be subject to annual examination by such person as the State Government may appoint who shall ascertain the adequacy of the sinking fund for the purpose of which it was created. (2) The Board shall forthwith augment the sinking fund with any amount which the person appointed under sub- section (1) may certify to be deficient unless the State Government allows a gradual augmentation. (3) If the cash and current market value of the securities at the credit of a sinking fund are in excess of the amount which should be at its credit, the person appointed under sub-section (1) shall certify the amount of the excess and the Board may, with prior consent of the State Government, suitably reduce or discontinue the half yearly contributions to the sinking fund required under section 68. Power of the Board to raise loans on Short Term Bills.