Bare ActsThe PUDUCHERRY HOUSING BOARD ACT, 1973

Section 79

Amendment status not verified — confirm the current text below against the official source.

Every loan taken by the Board shall be repaid by the Board within the period agreed upon by the Board and subject to such restrictions and conditions as may be prescribed by rules in that behalf, by such of the following methods as may be approved by the Government, namely:- 122 (a) from a sinking fund established under section 80 in respect of the loan; or (b) by paying in equal yearly or half-yearly instalments of principal or of principal and interest, throughout the said period; or (c) if the Board has, before borrowing money on debentures, reserved by public notice, a power to pay off the loan by periodical instalments and to select by lot the particular debentures to be discharged at particular periods then, by paying such instalments at such periods; or (d) from money borrowed for the purpose; or (e) partly from the sinking fund established under section 80 in respect of the loan, and partly from money borrowed for the purpose. Establishment and maintenance of sinking fund

Section 79 – The PUDUCHERRY HOUSING BOARD ACT, 1973 | DailyLaw.ai