Amendment status not verified — confirm the current text below against the official source.
(1) Surplus moneys at thc credit of the said accounL may from In\*cslnlmr of surplus timc to time be- nioncy. (a) deposited a[ intcrcst in [he Sratc Bank of India or in any other Bank approved by rhc Slare Governmenr in this i ! bchalF, or I (b) invested in any of the securilics or debcnturcs mcnrioned in sub-sec~ion (1) of seclion 109 of this Act or in section i 20 of the Indian Trusrs Act, 1882. (2) All such dcposits and investments shall be madc by thc '[Chief Exccu~ivc OTficcr] on bchalf of, and with the sanction of, thc Board; and, wirh thc like sanction, [he =[Chief Executive Ofliccr] may a1 any ii~nc withdraw any deposil so made, or dispose of any secudtics, and rcdcposit or rcinvest the money so withdrawn or the procecds of he disposal of such securities.