Section 12

If at any time the Minister is satisfied that the value of the sinking fund will be sufficient with further accumulations of interest but without further payment of the contribution to enable the loan to be redeemed out of the proceeds of the sinking fund when the same falls due to be redeemed, the Minister may suspend further payments of the contributions to the sinking fund:

Provided that the Minister may at any time recommence payment of the contribution if he considers this to be necessary.

The Minister may, at any time, apply all or any part of the moneys in the sinking fund created under this section to the purchase of trustee stock or stock issued under this Act which matures not later than the stock in relation to which the sinking fund was formed.

The Accountant General shall, in each year, pay into the sinking fund created under this section a sum equivalent to the annual interest which would have been payable on any stock purchased under subsection (3) if the stock had not been purchased as mentioned above.

Application of sinking fund