0 money saved by a company or government for the payment of future debts
1 money that a company pays into an account so that it can pay investors, lenders, etc. the money it owes them:
2 an account into which all owners of apartments in a building make regular payments for future repairs to the building:
What is the purpose of the second sinking fund concerning the new functions?
I agree that the only proper sinking fund is to have a surplus revenue over expenditure.
There is another kind provision, that for twenty-five years there shall be no compulsory sinking fund.
But that is entirely a different position from what we have here when we are dealing with the statutory sinking fund of a public undertaking.
He has to provide even now a bigger sinking fund.
Then he said there was no sinking fund.
The amount of the annual sinking fund payment would be fixed, but its duration would be indefinite.
The only real sinking fund is where you have a surplus of revenue over expenditure out of which public debt can be discharged.
