Section 17: Disposal of sinking fund when debentures are redeemed by purchase or by annual drawings.

In the case of debentures redeemable by annual drawings, the Nigeria High Commission shall place and keep the moneys so remitted to them, or so much thereof as may not be required for immediate payments, at interest, and shall hold all such moneys and the accumulations thereon in trust, to apply them in the first place to the purchase of the debentures when they can be obtained at a price not exceeding par, and, secondly, to the redemption of the debentures by means of annual drawings.