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; or
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 bank 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; or
   • (ii) a co-operative bank situated in the Union territory; or
   • (iii) such other mode of investment, as may be prescribed.