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Bengal Act 111 of 1938
[THE BENGAL FAMINE INSURANCE FUND
ACT, 1938.1'
e:
AMENDED .. Wcst Ben. Aci VII of 1948.
I. This Act may bc called lhc Bengal Faminc Insurance F u n r l ACL. Shon ~ i ~ l t .
'L19381.
(iii) thc inlcrcst which may from rime to lime accruc on [hc
sccuri~icsi l l which lhc sums to [he crcdi~or the Fund Irray
bc in\,cstcd ar re-invcsled under scction 6.
Pupcrsq for 5. Expenditure Irom rhc Fund shall not hc incuhcd exccpt upon
which lhc
Fund I I I bc
~~
the relici o f hmine and rhc r z l i c r o f disrrcss caused by scrious drough~,
uriltstd Ilood. carlhrluake or otltcr natural c-nldrr~ilies:
Provided ~ t ~ aifr , at any ~ i n ~the
c , iota1 arnounl of the,Fund excccds
civclve lakhs of rupees, thc '(Stale] Governmcnt may utilisc such cxcess
lo rrlsel cxpzndilure on prorcctivc irriga~ionworks and other r v ~ ) r k sfnr
the prcvcntion of famine or nond or in pay deb1 cha~ecsfor which rhc
l-[S~aicjGovcrnnlenl may from lime In 1i11iehc liable, including jntcrcst,
sinking fund charges and redemption cliarycs.
lnvcslmnl
and rt-
6. The 'IState] Government shall from bimc to lime invcsl or rc-
invmmcnrof invest in i ~ own
s securi~iesor in thc securities of the Ccn~ralGovernmcnt
u110unt not
all sums LO the crcdil ofrhc Fund, r v t ~ i c hmay not he immediately required
rtlquind.
for any of (he purposes mcn~ioncdi n sec~ion5 .