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Section 23: Sinking fund

The Kerala Metropolitan Transport Authority Act 2019State Act of Kerala · Act 25 of 2019

(1) The Authority shall, subject to the provisions of section 20 maintain a sinking fund for repayment of amount borrowed by it and shall pay every year into the sinking fund the amount as may be sufficient for repayment within the period fixed for the repayment of all amounts so borrowed.

(2) The sinking fund or part thereof shall be utilised 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 utilised for any other purpose.

Where this provision sits

ActThe Kerala Metropolitan Transport Authority Act 2019
Section23
Marginal noteSinking fund
JurisdictionState of Kerala
StatusIn force as published by the source

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