Section 103 in Tamil Nadu State Housing Board Act, 1961
103. Annual examination of sinking funds.
(1)The [Accountant-General, Tamil Nadu] [This expression was substituted for the expression 'Account-General, Madras' by paragraph 3(2) of the Tamil Nadu Adaptation of Laws Order, 1970.] shall examine the said sinking funds every year and ascertain whether the cash and current value of the securities at credit of stich funds are actually equal to the amount which would have accumulated, had investments been regularly made and had the rate of interest as originally estimated been obtained therefrom.(2)The Board shall forthwith pay into any sinking fund any amount which the Accountant- General may certify to be the deficiency therein after examination as aforesaid, unless the Government specially sanction a gradual readjustment.
