Investment of funds

(1) A registered society may invest or deposit its funds- (a) in the post office savings bank; or (b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (2 of 1882); or (c) in the shares or the securities of any other registered society; or (d) with any bank or person carrying on the business of banking approved for this purpose by the Registrar; or (e) in any other mode permitted by the rules. (2) Any investment or deposit made before the commencement of this Act which would have been valid if this Act had been in force is hereby ratified and confirmed.