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Section 70: Establishment and maintenance of sinking funds

Jharkhand State Housing Board Act 2000State Act of Jharkhand · Act 263 of 2000

(1) whenever a loan has to be repaid from a sinking fund, the Board shall establish such a fund and shall pay into it every year until the loan is repaid, a sum so calculated that if regularly paid throughout the period agreed upon by the Board, it 4141 | P a g e would, with accumulations in the way of compound interest be sufficient after payment of all expenses, to pay of the loan at the end of that period.

(2)The rate of interest on the basis of which the sum referred to in sub- section(1) shall be calculated shall be such as may be prescribed.

Where this provision sits

ActJharkhand State Housing Board Act 2000
Section70
Marginal noteEstablishment and maintenance of sinking funds
JurisdictionState of Jharkhand
StatusIn force as published by the source

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