§ Mr. A. M. SAMUELasked the Minister of Health whether his Department supervises the methods by which sinking funds are administered by public authorities over which he has control; whether there are any regulations issued by his Department as to how public authorities should operate their sinking funds set up to amortise debt gradually during currency or to redeem in a lump sum debt at a fixed future date?
§ Mr. GREENWOODThe methods by which the sinking funds of local authorities are administered are laid down by Statute except in the case of stock1598W issued under the Stock Regulations, where they are laid down by regulations made under Statute. My Department has the duty in a large number of cases, but not all, of seeing that the requirements of the Statutes or the regulations are complied with. These requirements include the methods in which sinking funds are to be applied.