Amendment status not verified — confirm the current text below against the official source.
(1) All moneys paid into a Sinking Fund shall as soon as possible he invested by the Corporation:— (a) Government securities, or (b) securities guaranteed by the Central or any State Government, or • (c) debentures issued by the Corporation, or (d) debentures issued, if any, by the Chandernagore Development Authority, or (e) any public securities approved by the State Government and shall he held by the Corporation for the purpose of repaying from time to time the loans raised by it by the issue of debentures or otherwise. (2) All dividends and other sums received in respect of any such investment shall, as soon as possible, be paid into the appropriate Sinking Fund and invested in the manner laid down in sub-section (1). (3) Moneys paid into two or more Sinking Funds may, at the discretion of the Corporation, be invested together as a common fund and it shall not he necessary for the Corporation to allocate the securities held in such investments among the several Sinking Funds. (4) Any investment made under this section may from time to time, subject to the provisions of sub-section (1), be varied or transposed. Sinking Fund. Investment of the amount of the Sinking Fund.