s.27Investment of sinking fund
27
Section 27Part 6 — Sinking Fund And Repayment Of Loans

Investment of sinking fund

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All money paid into a sinking fund established under section 23 may be invested by the trustees in investments approved from time to time by the Financial Secretary.
The dividends, interest, bonus and other profits of any investment of any part of any sinking fund shall, subject to the approval of the Financial Secretary, be placed at interest or invested by the trustees so as to form part of that sinking fund in like manner as moneys paid under section 24 as contributions to that sinking fund.
The trustees may, at any time, utilise the sinking fund or the money paid in under section 24 for the purchase of the stock for the redemption of which the sinking fund was established.
The trustees shall not invest any moneys contained in a sinking fund —
by way of deposit at interest; or
in any stock or securities, the date for the repayment or redemption of which is later than the date specified by directions under section 6 (1) for the redemption of the stock for which the sinking fund was established.

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