Amendment status not verified — confirm the current text below against the official source.
(I) All moneys crediled to a Sinking Fund shall as soon as possihle he invested by the Corporation in— (a) Government securities, or (b) securities guaranteed by the Central or any Stale Government, or (c) debentures issued by the Corporation, or (d) debentures issued by ihe '[KolkataJ Metropolitan Development Authority, or {c) debentures issued by the Trustees for the Improvement of '1 Kolkata), or (0 dabentutes issued by the Board of Trustees for ihe Port of '[Kolkaia], or (g) such other public securities as may be approved by llic Slale Government. and shall he held by lhe Corporation for the purpose of repaying, from time u> lime, lhe loans raised by it by ihe issue of debentures or otherwise. (2) All dividends and other sums received in respect oT ;iny such investment shall, as soon as possible, be credited to the appropriate Sinking Fund and invested in the manner laid down in sub-scciion (1). (3) Moneys standing at the credit of two or more Sinking Funds may, at the discretion of the Corporation, be invested together as a common fund, and it shall nol be necessary for the Corporation to allocate the securities held in such investments among the several Sinking Funds. (4) Any investment made under this scction may. from lime to lime, suhjeet to the provisions of sub-section (1), be varied or transposed.