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[Cites 0, Cited by 0] [Section 69] [Entire Act]

State of Gujarat - Subsection

Section 69(3) in The Gujarat Maritime Board Act, 1981

(3)If cash and current market value of the securities at the credit of a sinking fund are in excess of the amount which should be at its credits, the person appointed under sub-section (1) shall certify the amount of the excess and the Board may, with the previous sanction of the State Government reduce or discontinue the half-yearly contributions to the sinking fund required under Section 67.