Section 14

The Governor shall, in the half-year ending on the date specified in the terms of issue of the loan as that on which the first contribution to the sinking fund shall be taken and in each subsequent half-year, appropriate out of the said revenues and assets of the Colony, for the formation of a sinking fund, an additional sum equal to one half of the annual contribution specified in the prospectus or, in the case of a loan not issued publicly, in the terms of issue relating to the loan, in respect of the total nominal amount of all the debentures issued, including any which may have been redeemed, but

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exclusive of any which may have been at any time exchanged for stock, and shall remit that sum to the Crown Agents with the remittance hereinbefore mentioned.

Notwithstanding anything to the contrary contained in sub-section (1), if at any time the trustees of the sinking fund of any loan issued under the provisions of this

Ordinance are satisfied that the value of the fund will be sufficient with further accumulations of interest but without further payment of contributions to enable the loan to be redeemed out of the proceeds of the sinking fund not later than the final redemption date, the Governor may with the approval of the Secretary of State suspend further contributions to the said sinking fund:

Provided always that contributions to the sinking fund shall be recommenced if the trustees shall at any time inform the Governor that this is necessary.

Application of sinking fund.