LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT
Section 24: Investment of sinking fund.
(1) All moneys appropriated under section 22 of this Act as contributions to the sinking fund established for any loan shall be paid to the Central Bank and may then be invested in such stock or securities or in such other investments or classes of investments as may be approved by the Minister.
(2) The Central Bank may from time to time, with the approval of the Minister, vary any investment made under subsection (1) of this section or may realise and reinvest any moneys invested under that subsection.
(3) The dividends, interest, bonus and other profits of any investment of any part of any sinking fund shall be invested by the Central Bank so as to form part of that sinking funds in like manner as moneys appropriated under section 22 of this Act as contributions to that sinking fund.
Cite this section
Section 24, LOCAL LOANS (REGISTERED STOCK AND SECURITIES) ACT (1946).
https://repo.podus.ai/laws/local-loans-registered-stock-and-securities-act/section/24/