Amendment status not verified — confirm the current text below against the official source.
(1) The sums so set apart by the Board under sub-section (1) or Sctlon 61 lnvcsrment and ~ c d t h sums forming part of any sinking fund referred to in sub-section (2) of that iz$i~,~2~$. section shall be inveshed in public sccurities or in such other securities as the Govern- ,,lent lnay approvc ill this &half ;tnd shall be held by tllc Board in trust ~ Q I the put- poses of this Act. (2) The Boarcl may apply the whole or anv part of the sums accumulated in any sinking fund in 'or to~ards the discharge cf tht mnnevs for the repayment of which the fund has been established : Provided that it pays into the fund in each year and accumulates until the whole of the mm3neys borrowed are discharged, a sum equivalent to the interest which would have been produced by the sinking fund or the part of the sinking fund so .applied.