State Act
54B
Section 54B. Establishment of a sinking fund.
THE KARNATAKA HOUSING BOARD ACT, 1962.
Act no. 10 of 19631963In forceKarnataka (State Act)
54B. Establishment of a sinking fund.—(1) The Board may establish a sinking fund for the purpose of repayment of loans borrowed by it. (2) The amounts to be paid into the sinking fund and the mode of payment shall be as may be prescribed. (3) All moneys paid into the sinking fund shall be invested in Government securities or fixed deposits with Scheduled Bank]1.