Amendment status not verified — confirm the current text below against the official source.
(1) All money paid inro any sinking fund shall as soon as Inurslmnl possible be invested, under Ihc orders of thc Board, in- ofsinking funds. (a) Govcrnmcnl sccuritics, or (b) sccurirics guaranleed by the Cenlral or any State Govcrnrnent, or (c) Calcurra Municipal debentures, or Id) debcnturcs issucd by thc Commissioners for [he Porl of Calcurra, or (e) (i) dcbcntures issucd by thc Board of Trusrces for the improvcmcnl of Calculla, or (ii) debentures issucs by Lhc Board, in [he join1 names of the Secretary lo thc Government of Wcsr Bcngal in the Finance Depanrnenl and Lhe Accountnt-Gcncral, \Vcsl Bcngal, lo bc held by them as trusrccs for rhc purpose of repaying, from time ro timc, thc dcbenturcs issued by thc Board of Truslces for the improvement of Calcurla or by the Board of Truslees for [he in~provement of Howrah, as the case may be. (2) All dividends and olher sums received in respect of any such inves~ment shall, as soon as possible aAer receipt, be paid into the appropriate sinking fund and invested in the manner prescribed by sub-section (I). (3) Any invcstmenl made under lhis secuon may, from lime to lime, subject to the provisions of sub-seclion (I), be varied or mansposed.