State Act
34
Section 34. Sinking fund.
THE BENGALURU METROPOLITAN LAND TRANSPORT AUTHORITY ACT, 2022
Act no. 06 of 20232023In forceKarnataka (State Act)
34. Sinking fund.- (1) The Authority shall maintain a sinking fund for re-payment of amount borrowed by it and shall deposit into the sinking fund every year, such sum as may be sufficient for re-payment within the period fixed for the amount so borrowed. (2) The sinking fund or part thereof shall be applied in or towards the discharge of the loan for which such fund was credited and until such loan is wholly discharged, it shall not be applied for any other purpose.