Section 17

In the case of debentures redeemable by annual drawings, the Crown

Agents shall place and keep the monies so remitted to them, or so much thereof as may

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not be required for immediate payments, at interest, and shall hold all such monies and the accumulations thereon in trust, to apply them in the first place to the purchase of the debentures when they can be obtained at a price not exceeding par, and secondly, to the redemption of the debentures by means of annual drawings.

Appointment of day for drawing of debentures.

After the date specified in the Ordinance authorising a loan as that on which the contributions to the sinking fund shall commence in respect of that loan, and so long thereafter as any of the debentures remain outstanding and unsatisfied, the Crown

Agents shall, in every year, unless the whole of the money applicable in that year to the redemption of debentures has been applied in the purchase thereof, appoint a day in that year for the drawing by lot of the debentures to be redeemed.

Notice of time and place appointed for drawing.