section 54B
Establishment of a sinking fund
The Karnataka Housing Board Act, 1962Infrastructure196299 sections9 chapters
Chapter VII FINANCE, ACCOUNTS AND AUDIT
Statutory text
(1) The Board may establish a sinking fund for the purpose of repayment of loans borrowed by it. (2) The amounts to be paid into the sinking fund and the mode of payment shall be as may be prescribed. (3) All moneys paid into the sinking fund shall be invested in Government securities or fixed deposits with Scheduled Bank.
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