Mode of providing for payment of principal of stock

(1) The Minister shall, in the half-year ending on the date specified in the terms of issue of the loan as that on which the first contribution to the sinking fund is taken and in each subsequent half-year appropriate out of the revenue and assets of Belize for the formation of a sinking fund an additional sum equal to one half of the annual contribution specified in the prospectus or, in the case of a loan not issued publicly, in the terms of issue relating to the loan in respect of the total nominal amount of the stock including any stock which may at any time have been issued in exchange for debentures under the authority of this Act, and remit the sum to the Crown Agents with the remittance mentioned in section 27 of this Act. 12 (2) Notwithstanding anything to the contrary contained in subsection (1) of this section, if at any time the trustees of the sinking fund of any loan issued under the provisions of this Act are satisfied that the value of the fund will be sufficient with further accumulations of interest but without further payment of contributions to enable the loan to be redeemed out of the proceeds of the sinking fund not later than the final date, the may suspend contributions to the sinking fund, Provided always that contributions to the sinking fund shall be recommenced if the trustees at any time inform the Minister that this is necessary.