Custody and investment of Council Fund

All moneys at the credit of the Council Fund shall be kept in any Bank as the Council may determine: Provided that nothing in this section shall be deemed to preclude the Council from investing, with the previous sanction of the Government, any such moneys as are not required for immediate expenditure in any of the securities described in section 20 of the Indian Trusts Act, 1882 or placing them in fixed deposit in a Bank as determined by the Council.