section 10
The Board shall pay forthwith into the sinking fund any amount which the Accountant General may certify to be deficient, unless the ²[Provincial Government] specially sanction a gradual re-adjustment.
The Prince of Wales Museum Act, 1909Education191321 sections
Statutory text
Issue of debentures
- (1) In respect of any sinking fund which by this Act the Board are directed or empowered to invest in public securities or in such other securities as the ²[Provincial Government] may approve in this behalf, it shall be lawful for the Board to reserve and set apart for the purposes of any such investment any debentures to be issued on account of any loan for which the sanction of the ²[Provincial Government] shall have been duly obtained, provided that the intention so to reserve and set apart such debentures shall have been notified as a condition of the issue of the loan.
- (2) The issue of any such debentures direct to and in the name of "the Trustees of the Prince of Wales Museum of Western India" shall not operate to extinguish or cancel such debentures, but every debenture so issued shall be valid in all respects as if issued to, and in the name of, any other person.
- (3) The purchase by, or the transfer, assignment or endorsement to, the Board of any debenture issued by the Board shall not operate to extinguish or cancel any such debenture, but the same shall be valid and negotiable in the same manner and to the same extent as if held by, or transferred, assigned or endorsed to, any other person.]
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