Section 253: Cessation of contribution to sinking fund.

(1) Notwithstanding anything to the contrary contained in this part of this Act, if at any time the trustees are satisfied that the sinking fund of any loan raised under the provisions of this part of this Act will be sufficient with further accumulations of interest, but without further payments of contributions, to enable the loan to be redeemed at the time fixed for its redemption they shall inform the body accordingly, and the Minister, Commissioner, or Chairman or any appropriate officer shall be authorised in such event to suspend further payments of half-yearly or quarterly contributions to that sinking fund.
(2) The contributions to that sinking fund shall be recommenced if the trustees at any time thereafter inform the appropriate authority that they are no longer satisfied that the sinking fund without further accumulations of interest will be sufficient for the redemption of that loan.