Sugar Manufacture Act, 1933

State guarantee of debentures of the Company.

8.—(1) Whenever the Company proposes to issue any debentures the Minister may, if he thinks fit, guarantee in such form and manner as he may think proper the due payment by the Company in accordance with the terms of such debentures of the principal moneys and interest thereon secured by such debentures.

(2) A trustee may, unless expressly forbidden by the instrument (if any) creating the trust, invest any trust funds in his hands, whether at the time in a state of investment or not, in any debentures guaranteed by the Minister under this section.