Section 24(1) in The Gujarat Water Users' Participatory Irrigation Management Act, 2007
(1)Whenever the Association raises a loan for the purposes of this Act, it shall establish a fund to be called a Sinking Fund and shall pay into it on such dates as may be approved by the Competent Authority such sum as will, with accumulations of compound interest, be sufficient after payment of all expenses to pay up the loan within the stipulated period:Provided that if, at any time, the sum standing to the credit of the Sinking Fund is of such amount that if allowed to accumulate at compound interest, it is sufficient to repay the loan within the stipulated period, then, with the permission of the Competent Authority, further payments into such fund may be discontinued.
