(1) The Authority shall maintain a Sinking Fund for the repayment of money borrowed or floated or issuing debentures by it.
(2) The money paid into the Sinking Fund shall be invested in such a manner and in such securities as may be prescribed by the State Government.
(3) The Sinking Fund or any part thereof shall be applied as per rules in or towards the discharge of the loan or part thereof for which such fund is created and until such loan or part thereof is wholly discharged, the money standing to the credit of the fund shall be applied for no other purpose.
(2) The money paid into the Sinking Fund shall be invested in such a manner and in such securities as may be prescribed by the State Government.
(3) The Sinking Fund or any part thereof shall be applied as per rules in or towards the discharge of the loan or part thereof for which such fund is created and until such loan or part thereof is wholly discharged, the money standing to the credit of the fund shall be applied for no other purpose.
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More sections of this act
Section 1 · Short title Extent and commencementSection 2 · DefinitionsSection 3 · Establishment of Meghalaya Ropeway Development Authority.Section 4 · Declaration of Ropeway Development Area.Section 5 · Constitution of the Authority.Section 6 · Composition of the Authority.Section 7 · Powers and Functions of the Authority.Section 8 · Transaction of Business of the Meghalaya Ropeway Development Authority.India Code, Government of India. Text fetched 14 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.