Section 32 in The Co- Operative Societies Act, 1912

32. Investment of funds.

(1) A registered society may invest or deposit its funds--

(a) in the Government Savings Bank, or

1. Added by the A. O. 1937. 2. Ins. by the A. O. 1950. 3. Subs. by the A. O. 1950, for" Item 59". 4. Subs. by the A. O. 1950, for" the Government of India Act, 1935 ". 5. For s. 28A ins. in the U. P., see the Co- operative Societies (U. P. Amendment) Act, 1944 (U. P. 1 of 1944 ) as continued in force by the U. P. Expiring Laws Continuance Act, 1948 (U. P. 13 of 1948 ).

(b) in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (2 of 1882 ), or

(d) with any bank or person 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.