Creation of sinking fund for redemption of debentures payable on a fixed date

(1) In the case of fixed-date debentures, so much of the monies appropriated under section 12 of this Act as shall not be required for the immediate payment of interest shall be remitted to the Crown Agents for the formation of a sinking fund, and the Crown Agents shall place at interest or invest the money so remitted to them in the purchase of such securities as may be approved by the Minister as a sinking fund for the final extinction of the debt, and shall also place at interest or invest the dividends, interest or produce of such investments in the purchase of like securities, and may from time to time, with the 7 approval of the Minister, change any such investments, and shall hold the fund in trust for the repayment of the principal monies for the time being represented by the debentures. (2) If at any time the trustees of the sinking fund are satisfied that the value of the fund will be sufficient with further accumulations of interest, but without further payments of contributions to enable the debentures to be redeemed out of the proceeds of the sinking fund when the same shall fall due to be redeemed the Minister may, with the approval of the National Assembly, suspend further payment of contributions to the sinking fund, Provided that contributions to the sinking fund shall be recommenced if the trustees shall at any time inform the Minister that it is necessary.