(5)If at any time the Board is of opinion that the amount of the initial capital is in excess of the requirements of the Trust, [the Board may, and if the Central Government being of like opinion so directs, the Board shall, refund the whole or as the case may be so much of such capital as is in excess of its requirements] [Substituted by Act 63 of 1985, Section 3 (w.e.f. 23.4.1986)] to [any contributing institution, and in making any such refund the Board shall not make any discrimination between the institutions referred to in clause (c) of sub-section (2) or between the institutions referred to in clause (d) of that sub-section] [Substituted by Act 17 of 1966, Section 3, for "the contributing institutions" (w.e.f. 10-6-1966)]:Provided that where only a part is so refunded the amount to be refunded to each such institution shall bear, as far as possible, the same proportion to the contribution made by it as such part bears to the initial capital:Provided further that for the purpose of any refund, the value of the initial capital shall be determined by the Board on such basis as the Central Government may specify in this behalf, regard being had to the real or exchangeable value thereof.
