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Section 14

Procedure if sinking fund insufficient

of Loan (Local) Act 1959

ActIn forceProvision 22 of 30
Section 14

In case the sinking fund created under section 12 is insufficient for the repayment of all principal moneys represented by stock issued under this Act at the time when it becomes due or the purchase or conversion of stock under sections 11A and 11B, the Minister shall make good the deficiency out of the Consolidated Fund.