Amendment status not verified — confirm the current text below against the official source.
Contribution to Co-operative Education Fund :- A co-operative society shall out of its net profits in any year credit such portion of the profits not exceeding 5 percent as may be prescribed to the Co-operative Education Fund constituted under rules. SECTION-44 44, Investment of Funds :- (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. OO oe ae el (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. SECTION - 45