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Section 44: Investment of Funds

The Punjab Co-Operative Societies Act, 1961Union territory Act of Chandigarh · Act 25 of 1961

(1) A co-operative society may invest or deposit its fund-

(a) in the post office savings bank; or

(b) in any of the securities specified in section 20 of the Indian Trust Act, 1882;

or

(c) in the shares or securities of any other co-operative society;

or

(d) with any bank carrying on the business of banking approved for this purpose by the Registrar; or

(e) in any other mode permitted by the rules.

THE PUNJAB COOPERATIVE SOCIETIES ACT, 1961 45 8TH FINAL PRINT AS ON 05.10.2006

(2) Any investments or deposits made before the commencement of this Act which would have been valid if this Act had been inforce are hereby ratified and confirmed.

SECTION - 45

Where this provision sits

ActThe Punjab Co-Operative Societies Act, 1961
Section44
Marginal noteInvestment of Funds
JurisdictionUnion territory of Chandigarh
StatusIn force as published by the source

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