(1)The Bonds shall be payable in forty equal annual instalments to the person named therein or his duly authorised agent or transferee and shall carry interest at the rate of 2 ½ per centum per annum from the date of issue on that part of the principal which has not become payable. No interest shall be payable on any amount of the principal beyond the date on which its payment fell due, even though the amount is not realised by the holder of the Bonds.
