Section 23 in The Assam State Co-operative Agriculture and Rural Development Bank Limited
23. Debenture redemption fund mode of investment.
- Out of the recoveries towards the principal, the Bank shall set apart annually, a sum sufficient to repay the debenture loans on maturity, and that such sums to set apart, shall be credited to a separate account called Debenture Redemption Fund Account. The fund so Constituted shall be invested, may be withdrawn and be invested in any of the Trustee-(a)In Government saving Bank ;(b)In any of the Securities specified in Section 20 of the Indian Trust Act, 1882 ; others than those specified in clause (c) of that Section ;(c)In such other securities as the Government may approve ;(d)In any registered society, or banks approved by the Registrar for a period not exceeding six months.
