Section 100 in Tamil Nadu State Housing Board Act, 1961
100. Investment of sinking fund.
(1)All moneys paid into any sinking fund shall as soon as possible, be invested by the Board in-(a)Government securities; or(b)securities guaranteed by the Central or State Government; or(c)debentures issued by any local authority; or(d)debentures issued by the trustees of the Port of Madras; or(e)debentures issued by the Board,in the joint names of the [Examiner of Local Fund Accounts, Tamil Nadu] [This expression was substituted for the expression 'Examiner of Local Fund Accounts, Madras' by paragraph 3(1) of, and the Schedule to, the Tamil Nadu Adaptation of Laws Order, 1970.], and the [Accountant-General, Tamil Nadu] [This expression was substituted for the expression 'Accountant-General, Madras' by paragraph 3(2), of, and the Schedule to, the Tamil Nadu Adaptation of Laws Order, 1970.], to be held by them in trust for the repayment of the loan for which the sinking fund was established.(2)All dividends and other sums received in respect of any such investment shall, as soon as possible after receipt, be paid into the sinking fund and invested in the manlier laid down in sub-section (1).(3)Any investment made under this section may, from time to time, subject to the provisions of sub-section (1), be varied or transposed.
