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The Town Improvement Act, 1953 (East Bengal Act)

Section 114Power o discontinue payments into sinking funds

In forceChapter VI FINANCE

Chapter VI FINANCE

Loans

s. 114

114. Power o discontinue payments into sinking funds Notwithstanding anything contained in section 113, if at any time the sum standing at the credit of the sinking fund established for the repayment of any loan, is of such amount that, if allowed to accumulate at the rate of interest prescribed under sub-section (2) of that section, it will be sufficient to repay the loan at the end of the period approved by the Government under section 104, then, with the permission of the Government, further annual payments into such funds may be discontinued.

End of s. 114.

Read the contents: The Town Improvement Act, 1953 (East Bengal Act)