Section 27
Interest payments on capital moneys in Common Fund
of Public Trust Corporation Act 1995
ActIn forceProvision 27 of 43
Section 27
(1)
The interest payable in respect of the capital moneys which form part of the Common Fund shall be at such reasonable rate as the Corporation may, with the approval of the Minister, prescribe having regard to the distributable income of the Common
Fund and the ability of the Common Fund and General Reserve
Fund to meet all payments required to be paid.
(2)
Such rate may be revised quarterly.
(3)
Interest payable from the Common Fund shall be credited half yearly to the respective estates:
Provided that the Corporation may, at its discretion, credit such interest at such more frequent intervals as it may deem fit in the case of any particular estate.