State Act

THE TAMIL NADU SOCIETIES REGISTRATlON ACT, 1975

24. A registered society may, to such extent and under such conditions as may be permitted by its by-laws, from time to time, invest or deposit any portion of its funds not immediately required,— (1) upon immovable properties ; or (2) in securities of the Government or in National Savings Certificates or other securities of the Government of India ; (3) in the Post-Office Savings Bank Account; or (4) in a special account opened by the registered society for the purpose in a— (a) corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Central Act 5 of 1970); or (b) society registered or deemed to be registered under the Tamil Nadu Co-operative Societies Act, 1961 (Tamil Nadu Act 53 of 1961), the primary object or principal business of which is the transaction of banking business ; or (5) in such other mode of investment as may be prescribed.