Amendment status not verified — confirm the current text below against the official source.
(1) If in any case- incrensc rates ciency of revenue. (a) on the preparation of the estimate of any year, it appears that the estimated income of the Board for such year, after deducting therefrom the estbated expenditure of such year, wiU' be insacient for the payment of the interest which may be payable by the Board during such year to Government or to any other creditor and of my sinking fund established under section 64 and of any sum the repayment of which is due in pursuance of any terms fixed under setion 56 ; or (b) ail any time during the course of a year, it appears that the income of such portion of the year as has then elapsed, and the estimated income of the residue of such year after deducting therefrom the actual expenditure of such past portion and the estimated expenditure of such residue, will be insufficient far the payment of the said interest, sinking funds and sums due ; the Board ,may, and upon the requisition of Govern- ment shall, increase the rates for the time being in form to such extent as will render the estimated income of the year sufficient as nearly as may be for the pay- ment in full of the said interest, sinking funds and sums due. (2) Such increased rates shall be iked by the Board, and if approved by Government, shall be published in the Official Gazette and shall become leviable after the expiration of one month from the date of such publication, and continue to be so leviable until altered by the Board with the sanction of Government.