Investment and application of sinking fund

(1) The sums forming part of any sinking fund set apart by the Board under section 68 shall be invested in public securities or in such other securities as the State Government may approve and shall be held by the Board in trust for the purpose of this Act. (2) The Board may apply the whole or any part of the sums accumulated in any sinking fund in or towards the discharge of the moneys for the repayment of debt for which the fund has been established.