Investment of funds

Every society, to such extent, and under such conditions, as may be permitted under its bye-laws, from time to time, invest or deposit any portion of its funds not immediately required,––

1. (a) in immovable properties;
2. (b) in securities of the Government or in National Savings Certificates or other securities of the Government of India;
3. (c) in the Post Office Savings Banks Account; or
4. (d) in a special account opened by the society for the purpose in—
   • (i) a Scheduled Bank as authorised or notified by the Reserve Bank of India;
   • (ii) a Co-operative Bank situated in the Union territory; or
   • (iii) such other mode of investment, as may be notified.