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State of West Bengal - Section

Section 106 in The Howrah Improvement Act, 1956

106. Repayment of loans taken under section 98.

- Every loan taken by the Board under section 98 shall be repaid within the period approved by the State Government under that section, and, subject to the provisions of sub-section (2) of section 135, by such of the following methods as may be so approved, namely :-
(a)from a sinking fund established under section 107 in respect of the loan, or
(b)by paying equal yearly or half-yearly instalments of principal, or of principal and interest, throughout the said period, or,
(c)if the Board have, before borrowing money on debentures, reserved, by public notice, a power to pay off the loan by periodical instalments and to select by lot the particular debentures to be discharged at particular periods- then by paying such instalments at such periods, or
(d)from money borrowed for the purpose under clause (b) of section 98, or
(e)partly from the sinking fund established under section 107 in respect of the loan, and partly from money borrowed for the purpose under clause (b) of section 98.