Investment of funds

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

1. (i) in immovable properties;
2. (ii) in securities of the Government or in National Savings Certificates or other securities of the Government of India;
3. (iii) in the Post Office Savings Banks Account; or
4. (iv) in a special account opened by the society for the purpose in––

1. (a) a Scheduled Bank as authorised or notified by the Reserve Bank of India;
2. (b) a Co-operative Bank situated in the Union territory; or
3. (c) such other mode of investment as may be notified. ---