Section 56. Investment of funds.

{
    "act_title": "THE DELHI CO-OPERATIVE SOCIETIES ACT, 2003",
    "act_slug": "the-delhi-co-operative-societies-act-2003",
    "section_label": "Section",
    "section": {
        "number": "56",
        "title": "Section 56. Investment of funds.",
        "chapter": null,
        "content": "(1) A co-operative society may invest or deposit its fund -  \n(a) in the postal savings bank; or  \n(b) in any of the securities specified in section 20 of the Indian \nTrusts Act, 1882 (2 of 1882); or  \n(c) in the shares or securities of any other co-operative society; \nor  \n(d) with co-operative or scheduled or nationalised banks; or  \n(e) in any federal co-operative society of which it is a member or \napex or financing bank; or  \n\n(f) in any other mode permitted by the rules :  \nProvided that the co-operative bank shall be required to make investment of its \nfunds in accordance with the directions, instructions and guidelines of the \nReserve Bank.  \n(2) Any investment or deposit made before the commencement of this Act which \nwould have been valid if this Act had been in force are hereby ratified and \nconfirmed.",
        "footnote": "",
        "is_definition": false,
        "sort_order": 620
    },
    "prev_section": "55",
    "next_section": "57"
}