Section 49
Investment of funds.
The Delhi Co-operative Societies Act, 1972
About this Act
An Act to consolidate and amend the law relating to co-operative societies in the Union territory of Delhi.
(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 Trusts Act, 1882 (2 of 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.
(2) Any investments or deposits made before the commencement of this Act which would have been valid if this Act had been in force are hereby ratified and confirmed.
(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 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.
(2) Any investments or deposits made before the commencement of this Act which would have been valid if this Act had been in force are hereby ratified and confirmed.