ANNUAL STATEMENT BY TRUSTEES

ANNUAL STATEMENT BY TRUSTEES.—

1. (1) The trustees under sub-section (2) of section 303 shall, at the end of every year, submit to the Municipality a statement showing -
   • (a) the amount which has been invested during the year under section 303;
   • (b) the date of the last investment made prior to the submission of the statement;
   • (c) the aggregate amount of the securities then in their hands; and
   • (d) the aggregate amount which has upto the date of the statement been applied under section 304 in or towards discharging loans.
2. (2) Every such statement shall be laid before the Council and published.