Section 7: Redemption of debentures.

The debentures shall be redeemable either-
[1951 No. 33.]
(a)
at par on a fixed date to be declared on the issue of the debentures such date not being later than sixty years from the date of issue:
Provided that the President may reserve the option to redeem the debentures prior to such date on such conditions as may be declared at the time of issue;
or
(b) by annual drawings at par or at the option of the President, or by purchase at or below par.