(1)The managing committee of the farmers organisation shall maintain a sinking fund for the repayment of moneys borrowed and shall pay every year into the sinking fund such sum as may be sufficient for repayment, within the period fixed, of all moneys so borrowed. (2) The sinking fund or any part thereof shall be applied in or towards, the discharge of the loan for which such fund was created, and until such loan is wholly discharged, it shall not be applied for any other purpose.
Section 29: Sinking Fund.
Tamil Nadu Farmers’ Management of Irrigation Systems - Act, 2000State Act of Tamil Nadu · Act 7 of 2001
Where this provision sits
| Act | Tamil Nadu Farmers’ Management of Irrigation Systems - Act, 2000 |
|---|---|
| Section | 29 |
| Marginal note | Sinking Fund. |
| Jurisdiction | State of Tamil Nadu |
| Status | In force as published by the source |
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