section 29
Sinking Fund
The Tamil Nadu Farmers' Management of Irrigation Systems Act, 2000Infrastructure200050 sections6 chapters
Chapter IV FUNDS OF FARMERS ORGANISATION
Statutory text
- (1) The managing committee of the farmers organisation shall maintain a sinking fund for the repayment of money borrowed and shall pay every year into the sinking fund such sum as may be sufficient for repayment, within the period fixed, of all moneys so borrowed.
- (2) The sinking fund or any part thereof shall be applied in or towards, the discharge of the loan for which such fund was created, and until such loan is wholly discharged, it shall not be applied for any other purpose.
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