Debentures may be either fixed-date or drawing debentures

The debentures shall be redeemable either, (a) at par on a fixed date to be declared on the issue of the debentures, such date not being later than sixty years from the date of issue: Provided that the Minister may reserve the option to redeem the debentures prior to such date on such conditions as may be declared at the time of issue (such debentures being hereinafter referred to as fixed- date debentures); or (b) by annual drawings at par or at the option of the Minister by purchase in the market as provided in section 14 of this Act (such debentures being referred to as drawing