AMC Act 66Chapter III · Finance
Section 66 · Sinking Fund
Text size — level 1 of 4
(1)
The Corporation shall establish a separate Sinking Fund in respect of each loan raised under section 61 and shall pay into such fund every six months a sum so calculated that if regularly paid, such sum together with the compound interest accrued thereon would be sufficient, after payment of all expenses, to pay off the loan within the period approved by the State Government under the proviso to section 61.(2)
The rate of interest at which the sum referred to in sub-section (1) shall be calculated shall be such as may be prescribed.Your private note on this section
Only you can see this note.