The Meghalaya Ropeway Act, 2022 (Act No. 14 of 2022)
Section 15. Sinking Fund.
(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.
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