Amendment status not verified — confirm the current text below against the official source.
Every loan raised by the Corporation under section 71 shall be repaid within the period approved and by such of the following methods as may be approved by the State Government, namely:— (a) from a Sinking Fund established under sub-section (1) of section 76 in respect of such loan, or 50 THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 29, 2008 [PART III The West Bengal Municipal Corporation Act, 2006. (Part 111.—Finance.—Chapter VII.—Municipal Fund, Budget, Loans, Accounts and Audit.—Sections 75-79.) (b) partly from such Sinking Fund and partly from the loan raised for the purpose of repayment of loan under section 71. Form and effect of debenture. Sinking Fund. Investment of amount of Sinking Fund. Application of Sinking Fund. Statement of investment. 75.. All debentures issued under this chapter shall be in such form, and shall be transferable in such manner, as the Corporation may by regulations determine, and the right to sue in respect of the money secured by any of such debentures shall vest in the holders thereof for the time being without any preference by reason of some such debentures being prior in date to others.