Section 166 in The U.P. Co-operative Societies Rules, 1968
166.
A co-operative society may, with the permission of the Registrar, invest a specified portion of its reserve fund for any one or more of the following -(i)acquisition or purchase of land and building and construction of building for-(a)its office, staff and equipments,(b)installation or operation of its machinery or plant;(ii)purchase of machinery or plant which is required for its main business; and(iii)acquisition or purchase of land and buildings and construction of buildings for purposes mentioned in clause (i) (a), and also for the benefit of its members in accordance with the provisions of its bye-laws, if the society is a co-operative housing society.
