Establishment and maintenance of sinking fund
Section 70 of the Goa Housing Board Act, 1968 deals with establishment and maintenance of sinking fund. Whenever a loan has to be repaid from sinking fund, the Board shall establish such a fund and shall pay into it every year until the loan is repaid, a sum so calculated that if regularly paid, throughout the period agreed upon by the Board, it would, with accummulations by way of compound interest,
(1) Whenever a loan has to be repaid from sinking fund, the Board shall establish such a fund and shall pay into it every year until the loan is repaid, a sum so calculated that if regularly paid, throughout the period agreed upon by the Board, it would, with accummulations by way of compound interest, be sufficient after payment of all expenses, to pay off the loan at the end of that period.
(2) The rate of interest on the basis of which the sum referred to in sub-section (1) shall be calculated shall be such as may be prescribed: 27 Words "Daman and Diu" omitted vide Amendment Act 17 of 2021. 28 Substituted in place of word Territory vide Amendment Act 17 of 2021.
Provided that the rate so prescribed shall not exceed five per cent per annum.
Section 70, The Goa Housing Board Act, 1968 (Act 12 of 1968).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 70
What does Section 70 of the Goa Housing Board Act deal with?
Section 70 of the Goa Housing Board Act is headed "Establishment and maintenance of sinking fund". Whenever a loan has to be repaid from sinking fund, the Board shall establish such a fund and shall pay into it every year until the loan is repaid, a sum so calculated that if regularly paid, throughout the period agreed upon by the Board, it would, with accummulations by way of compound interest,
How do I find court cases under Section 70 of the Goa Housing Board Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Goa Housing Board Act 70, section 70 Goa Housing Board Act, section 70 of the Goa Housing Board Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 70 of the Goa Housing Board Act, and has it changed?
2 other provisions in this corpus refer back to it.
When was the Goa Housing Board Act enacted?
Goa Housing Board Act was enacted in 1968 as Act 12 of 1968. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- 129. Power to make regulations968 words
- 92. Reports and information to be furnished by auditor to Board585 words
- 61. Power to evict certain persons from Board premises531 words
- 36. Deferred street scheme423 words
- 2. Definitions412 words
- 45. 401 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Read from the Government's own scanned gazette with Azure Document Intelligence, then split into sections by their numbering. India Code publishes no text for this Act. The scan itself is mirrored into our own storage and served at /scan/d047f3cd-53d2-4a7e-b8f8-f3937b9a941f.pdf, so the reading here can be checked against the page it came from without depending on India Code's own copy staying where it is (it was at https://indiacode.gov.in/server/api/core/bitstreams/094964f8-0870-4747-93b8-11fb23b73451/content). This page is not a substitute for legal advice.